Use the following choices regarding the various types of unemployment to describe this situation. Joe is looking for work as a machinist after his and most other machinist jobs were eliminated, replaced by computer-operated machines.
A. Frictional unemployment
B. Structural unemployment
C. Natural unemployment
D. Cyclical unemployment
B. Structural unemployment
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The Southern economy ________________ from the damages of the Civil War.
A. quickly recovered B. experienced no lingering effects C. suffered decades of economic transition
The balance of payments schedule can be expressed as
a. X(Yƒ, ?) ? Z(Y, ?) ? F(r ? rƒ) = 0 b. X(Yƒ + ?) + Z(Y, ?) ? F(r ? rƒ) = 0 c. X(Yƒ, ?) ? Z(Y, ?) + F(r ? rƒ) = 0 d. X(Yƒ, ?) + Z(Y, ?) + F(r ? rƒ) = 0
Of the several ways that the United Auto Workers can increase the wages of its members,
a. none can also increase employment b. only direct negotiation of a wage above the competitive level can also increase employment c. only restricting the supply of labor can also increase employment d. only increasing the demand for labor can also increase employment e. only binding arbitration can also increase employment
If a firm has no ______ costs, then the profit from shutting down is zero.
A. fixed B. variable C. opportunity D. sunk