Gabriela, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is
a. frictional
b. structural
c. seasonal
d. cyclical
e. underemployment
A
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The transactions approach to measuring money stresses the role of money as a
A) store of value. B) unit of accounting. C) medium of exchange. D) standard of deferred payment.
Economists use the term externalities to refer to
A) consequences people ignore in their decision making. B) any cost associated with an action. C) foreign imports or exports. D) the behavior in which people actually engage as distinct from their alleged reasons for acting as they do. E) the outside directors of a corporation as distinct from corporate directors who are also managers.
The demand for euros would come from
a. American exports to Europe. b. European demand for U.S. government bonds. c. American demand for European real estate. d. All of the above are correct.
Recessionary gaps usually lead to
A. structural unemployment. B. cyclical unemployment. C. seasonal unemployment. D. frictional unemployment.