The unemployment due to changes in the types of skills employers require is called __________ unemployment
A) structural
B) cyclical
C) natural
D) frictional
A
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In an open economy, the quantity supplied of TVs in the domestic market will be ________. 
A. 30,000 B. 120,000 C. 90,000 D. 60,000
Suppose rice can be produced in China at a lower cost than in Thailand, while tuna can be produced in Thailand at a lower cost than in China. International competition will
a. destroy the rice market in both countries b. drive China to specialize in rice and Thailand to specialize in tuna c. drive Thailand to specialize in rice and China to specialize in tuna d. cause both countries to reject international specialization e. result in lower total output of rice and tuna
Which of the following statements is not correct?
a. Novels are likely to be produced in a monopolistically competitive industry. b. Cable television is likely to be produced in a monopoly industry. c. Milk is likely to be produced in a monopolistically competitive industry. d. Cigarettes are likely to be produced in an oligopoly industry.
If the short-run price elasticity of demand for hospital care is .27, then the long-run price elasticity is expected to be:
A. greater than .27. B. perfectly inelastic. C. less than .27. D. equal to .27.