If a town has a monopsony, this means:
a. there is only one employer.
b. price discrimination takes place.
c. goods are priced too high.
d. no unions can exist.
e. excess profits are being made
a
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The type of unemployment created by the normal rate of reentry and entry into the labor force is
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.
Which of the following correctly describes the trend in the federal budget during the 1980s? a. Federal spending declined relative to GDP, while federal revenues rose relative to GDP. b. Federal spending rose relative to GDP, while federal revenues declined relative to GDP. c. Balanced budgets were passed through cooperation between the President and Congress. d. The dollar depreciated,
thereby lowering the deficit. e. The budget deficit decreased and then disappeared, turning into a surplus in the 1980s.