Fred recently lost his job as a teller at the bank. The bank explained that they were replacing Frank and others with ATM machines. Fred falls into a category of unemployment known as
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) seasonal unemployment.
B
You might also like to view...
If Congress wanted to counteract the effects of a recession it could
A) increase government purchases. B) increase tax rates. C) increase taxes by a fixed amount. D) decrease defense spending.
In 1984, the South Carolina State Supreme Court ruled that a 20 percent admission tax on X-rated movies was unconstitutional. When the affected cinemas sought a refund of collected taxes, they were denied on the grounds that the tax, although collected by the theater, was indeed paid by the theatergoers. The Supreme Court apparently believed
a. the supply of X-rated movies was perfectly elastic. b. the demand for X-rated movies was perfectly inelastic. c. the legislation intended that the theatergoers pay the tax. d. the burden fell on the theatergoers-there are no excess burdens on the theater.
What would opening trade between two nations do?
What will be an ideal response?
When price is greater than both marginal cost and average variable cost, the perfectly competitive firm
A) is maximizing economic profit. B) should increase its level of output. C) should reduce its level of output. D) should stop production.