Explain what type of unemployment changes with the business cycle and how it changes
What will be an ideal response?
Cyclical unemployment is the unemployment that changes with the business cycle. Cyclical unemployment rises when the economy is in the recession part of a business cycle and decreases when the economy is in the expansion part of the business cycle.
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If pilots and flight attendants agree to wage and benefit reductions in the wake of the financial difficulties in the airline industry, what impact would this have on the supply and demand in the market for airline service, assuming no other changes
take place in this market?
Public elementary and high school education in the United States is provided
A) as a free good. B) as a subsidized good. C) at the market clearing price. D) in an amount less than the equilibrium quantity.
If ten years ago the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket is $8 and the average hourly wage is $20, then
a. movies are now relatively cheaper in terms of work hours. b. movies are now relatively more expensive in terms of work hours. c. the relative price of movies has remained constant. d. workers now need to work longer hours to earn one movie ticket.
Equilibrium in the money market would be expressed by which of the following?
A. Md = (1/V)P B. Ms = (1/V)Y C. Ms = Md D. Ms = (1/V)P