Joe Spengler, now age 54, lost his job as a shipbuilder during the recession of 1991 . His plant never reopened, and he has very specialized skills that are no longer in demand. Joe's unemployment is best classified as
a. cyclical
b. structural
c. discouraged
d. frictional
e. voluntary
B
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Hyperinflation typically ________
A) describes periods of extreme price increases of over 50% per month or 1,000% per year B) is a result of extreme periods of money growth that tend to come from large fiscal imbalances C) affects both poor and developed economies D) all of the above E) none of the above
Oligopoly firms are guaranteed economic profits in the long run
a. True b. False Indicate whether the statement is true or false
In reality, there is not one labor market, but many
a. True b. False Indicate whether the statement is true or false
Holding all else constant, an increase in the real interest rate on Mexican assets will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. decrease; decrease B. decrease; increase C. increase; increase D. increase; decrease