The unemployment rate will increase whenever there is a(n):
A. increase in the number of persons classified as unemployed.
B. increase in the number of unemployed persons relative to the size of the labor force.
C. increase in the size of the U.S. population and there is no change in the number of persons classified as employed.
D. reduction in the size of the labor force.
Answer: B
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To reduce moral hazard problems, banks include restrictive covenants in loan contracts. In order for these restrictive covenants to be effective, banks must also
A) monitor and enforce them. B) be willing to rewrite the contract if the borrower cannot comply with the restrictions. C) trust the borrower to do the right thing. D) be prepared to extend the deadline when the borrower needs more time to comply.
Like competitive firms, monopolies choose to produce a quantity in which marginal revenue equals marginal cost
a. True b. False Indicate whether the statement is true or false