Unemployment rates were much higher in the 1980s than they were in the 1950s basically because
A) a higher percentage of the population was in the labor force in the 1980s, but the cost to many of them of being unemployed was much lower than it was in the 1950s.
B) automation has eliminated many unskilled jobs.
C) fewer jobs are available in the 1980s relative to the population.
D) inflation raises unemployment rates.
E) recessions have become much more severe since the 1950s.
A
You might also like to view...
An economic profit for a self-employed entrepreneur is
A) an opportunity cost. B) the same as the normal profit. C) a profit over and above opportunity cost. D) None of the above answers is correct.
Ordinarily, governments attempt to promote competition in markets. Why do governments use patents to block entry into some markets when this prohibits competition?
A) Politicians sometimes succumb to pressure from lobbyists to grant favors to businesses for political reasons. B) Patents are an important source of government revenue. C) Patents are justified because they are an important means for creating network externalities. D) Patents encourage firms to spend money on research necessary to create new products.
Which of the following represents the equation that would be used to determine the yield to maturity of a three-year fixed payment loan of $1400 which has payments of $500 per year?
A) $1400 = $500/(1+i) + $500/(1+i)2 + $500/(1+i)3 B) $1400 = $500/(1+i)3 C) i = (1400-500)/1400 D) $1400 = $500/(1+i) + $500/(1+i)2 + $500(1+i)3 + 1400/(1+i)3
Assume Congress decides that oil companies are making too much profit and decides to tax oil companies for each gallon of gasoline produced. This would
A) shift the marginal cost curve up. B) shift the marginal cost curve down. C) shift the average fixed cost curve up. D) shift the average fixed cost curve down.