What is structural unemployment?
What will be an ideal response?
Structural unemployment is unemployment that occurs as the economy evolves, and reflects a mismatch of skills and jobs.
You might also like to view...
The United States Postal Service is an example of a monopoly created by
a. government franchise. b. copyright. c. control of scarce inputs. d. rent-seeking behavior.
Reasoning resulting in differing results includes the time period under examination, the data sources and proxies used, the econometric tools employed, and many other reasons. This is not to say that because different researchers come to different conclusions the analysis is confused. It just means further investigation is needed.
What will be an ideal response?
YearFootballs(in millions)P FootballsBooks(in millions)P BooksNominal GDPReal GDP2000 Base Yr55464949200165465454200276577765200347788462Assume the table has recorded the total output and prices of the only two goods produced. Looking at the changes in real GDP and nominal GDP from 2000 to 2001, we can conclude that because:
A. nominal GDP rose more than real GDP, both prices and output must have increased. B. real GDP rose more than nominal GDP, output must have increased more than prices. C. real and nominal GDP increased at the same rate, there was no change in output, only prices. D. real and nominal GDP increased at the same rate, there was no change in prices, only output.
Members of the EU (European Union):
A) have virtually eliminated all trade barriers within the community. B) have increased trade restrictions among them. C) have made it more difficult to trade with each other. D) no longer trade with North America.