Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is
a. the natural rate of unemployment
b. not considered part of the unemployment
c. cyclical unemployment
d. frictional unemployment
e. structural unemployment
D
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A collusion breaks down if ________
A) a firm charges a price higher than the price set by the other colluding firms B) a firm charges a price lower than the price set by the other colluding firms C) the price set by the colluding firms equals the marginal cost of production D) the price set by the colluding firms exceeds the marginal cost of production
You purchase a $30, nonrefundable ticket to a play at a local theater. Ten minutes into the show you realize that it is not a very good show and place only a $10 value on seeing the remainder of the show. Alternatively you could leave the theater and go home and watch TV or read a book. You place an $8 value on watching TV and a $12 value on reading a book
a. You should stay and watch the remainder of the show. b. You should go home and watch TV. c. You should go home and read a book. d. You should go home and either watch TV or read a book.