The primary cause of frictional unemployment is
a. the low level of the current minimum wages.
b. the lack of and cost of acquiring information about available job opportunities.
c. a mismatch of the skills of unemployed workers with the skills needed for job openings.
d. discouraged workers who quit looking for a job after extended periods of unsuccessful job search.
B
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Suppose that average labor productivity in Country C is $6,000, and that Countries C and A have the same real GDP per capita. Based on the information in the table, what must be the average labor productivity in Country A?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. $2,400 B. $1,800 C. $5,000 D. $7,200
What is the national security argument to support protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage. B) Any firm necessary in wartime must be protected. C) Foreign producers selling below cost to drive domestic firms bankrupt must be stopped. D) Domestic jobs must be protected from competition from low-paid foreign workers. E) Foreigners selling products in the economy limit the nation's diversity and stability.
Reducing existing tariffs on tomatoes would: a. reduce imports of tomatoes
b. increase U.S. consumption of domestically produced tomatoes. c. decrease total U.S. consumption of tomatoes. d. none of the above
A major complication with fiscal policy to control aggregate demand is the
a. inability to agree on macroeconomic goals. b. accuracy of modern forecasting models. c. inability to change aggregate demand with fiscal tools. d. constantly changing investment and net exports because of other events.