In 2015, JP Morgan Chase announced that it was laying off 5,000 employees. The laid-off employees who were not able to find jobs at another bank due to a permanent decline in demand in the banking industry would be considered
A) frictionally unemployed. B) structurally unemployed.
C) seasonally unemployed. D) cyclically unemployed.
B
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Why does the structure of a corporate business complicate the analysis of a strategy?
The concept of "proved reserves" refers to the amount of a resource that can be produced
a. in one year's time. b. in the next ten years. c. before it runs out. d. at current prices and technology.
The invisible hand principle indicates that when individuals are directed by prices determined in competitive markets, their actions will tend to promote the efficient use of resources
A) even when each market participant cares only about their own self interest rather than the overall efficiency of resource use. B) even if business firms fail to produce goods efficiently. C) only if buyers and sellers personally care about economic efficiency. D) if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.
The application of new technologies to the production process will increase:
A. the share of the population employed. B. average labor productivity. C. the unemployment rate. D. the quantity of human capital.