Sally Is on a Temporary Summer Layoff from the Public

question 161

Multiple Choice

Sally is on a temporary summer layoff from the public school where she works as an administrator.If Sally participates in the Statistics Canada survey,how will she be classified?

• A) as unemployed and in the labour force
• B) as unemployed and out of the labour force
• C) as employed and in the labour force
• D) as employed and out of the labour force

Recognize the factors that influence the enforcement intensity of antitrust laws.

Understand the legal and economic rationales behind different forms of industry regulation and intervention.

Understand the reasons and criticisms behind the regulation of natural monopolies.

Identify the theories of regulation, including public interest and legal cartel theory.

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Definitions:

Excludability

Excludability is a property of a good or service that allows its owner to prevent others from using it without permission, which is important for classifying goods in economic terms.

Public Good

Services or commodities made available to every person in a society free of cost, courtesy of either the government or non-governmental organizations, devoid of profit objectives.

Marginal Benefit

Marginal Benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Marginal Cost

The supplementary expense associated with creating an additional unit of a product or service.