The unemployment rate may:
A. understate the effect of a recession on employment because some leave the labor force.
B. understate the effect of a recession on employment because many enter the labor force.
C. overstate the effect of a recession on employment because some leave the labor force.
D. overstate the effect of a recession on employment because many enter the labor force.
A. understate the effect of a recession on employment because some leave the labor force.
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Refer to Table 6-8. What is the most distinctive feature of the supply curve?
A) The supply curve is horizontal. B) The supply curve is upward sloping. C) The supply curve is perfectly elastic. D) The supply curve is perfectly inelastic.
The market structure where there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher. B) a monopoly. C) a tariff. D) the most economically efficient market structure.