The sectoral shifts hypothesis claims that
A. there will always be a pool of unemployed workers who find jobs quickly (i.e., the frictionally unemployed).
B. cyclical unemployment will always exceed frictional unemployment.
C. frictional unemployment will cause workers to extend their temporary lay-offs.
D. there will always be a pool of unemployed workers who experience long spells of unemployment because their skills do not match those that employers are looking for (i.e., the structurally unemployed).
E. most unemployed workers will return to their previous job because the firm knows the skills of the worker.
Answer: D
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When quantities of two goods belong to the same indifference curve, which of the following is true?
a. The combinations of the two goods along the indifference curve yield the same total utility. b. Prices of the two goods are equal. c. Marginal utilities of both goods are equal. d. The total utility of all combinations above the curve equal zero.
A graph's origin is the point of intersection of all lines or curves in the graph
a. True b. False Indicate whether the statement is true or false
A business owner makes 50 items a day. She spends 8 hours in producing those items. If hired elsewhere she could have earned $10 an hour. The item sells for $10 each. Production occurs seven days a week. If the explicit (other production) costs total $10,000 a month the economic profit for the month (30 working/selling days) equals:
a. $2,600 b. $5,000 c. $2,240 d. $11,760
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A. In-the-money B. At-the-money C. Out-of-the-money D. Worthless