Jack was unemployed two weeks ago but just started a new job. As ...

[hbsimmons88]

Jack was unemployed two weeks ago but just started a new job. As a result of this increase in the number of employed workers, which of the following occurred?
 
  A) The labor force participation rate increased. B) The unemployment rate decreased.
  C) The unemployment rate increased. D) The labor force participation rate decreased.

Question 2

Assume a hypothetical case where an industry begins as perfectly competitive and then becomes a monopoly. As a result of this change
 
  A) price will be higher, output will be lower, and the deadweight loss will be eliminated.
  B) consumer surplus will be smaller, producer surplus will be greater, and there will be a reduction in economic efficiency.
  C) consumer surplus will be smaller and producer surplus will be greater. There will be a net increase in economic surplus.
  D) price will be higher, consumer surplus will be greater, and output will be greater.

[Dnite]

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[hbsimmons88]

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[Dnite]

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