Auto workers laid off from Hot-Rod Autoworks as the result of a recession are considered
A) seasonally unemployed. B) frictionally unemployed.
C) structurally unemployed. D) cyclically unemployed.
D
Economics
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The primary purpose of patents and copyrights is to
A) protect firms from being taken advantage of by competing firms. B) protect domestic firms from foreign competition. C) provide owners with large profit forever. D) encourage the expenditure of funds on research and development to create new products.
Economics
If a firm is a price taker in both the labor market and the output market, it will
A) earn zero economic profit in the short run. B) hire labor until the marginal product of labor equals zero. C) hire labor until the marginal revenue product equals the output price. D) hire labor until the marginal revenue product equals the wage rate.
Economics