Cyclical unemployment is primarily caused by
a. a large proportion of youthful workers in the labor force.
b. fluctuations in aggregate demand.
c. a lack of training on the part of job seekers.
d. the failure of job seekers to search adequately for the available jobs.
B
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You have two options for how to spend the afternoon. You can either go see a movie with your roommate or work as a tutor for the Math Department. From experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. If you spend the afternoon working as a math tutor, you will get paid $45. On a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. What is your opportunity cost of seeing a movie this afternoon?
A. $22 B. $8 C. $57 D. $12
A leftward shift of the supply curve will lead to a(n)
A) increase in equilibrium price. B) excess demand at the old equilibrium price. C) decrease in quantity demanded. D) All of the above.
An increase in U.S. income that increases American demand for all normal goods (including imports from Britain) will shift
a. the U.S. demand curve for foreign exchange to the right, causing an increase in the dollar-per-pound exchange rate b. the U.S. demand curve for foreign exchange to the left, causing a decrease in the dollar-per-pound exchange rate c. the U.S. supply curve for foreign exchange to the right, causing a decrease in the dollar-per-pound exchange rate d. the U.S. supply curve for foreign exchange to the left, causing an increase in the dollar-per-pound exchange rate e. neither the U.S. demand curve for foreign exchange nor the U.S. supply curve for foreign exchange
Discuss how brand names may enhance the efficiency of markets in a less developed country