Juan lost his job as a nuclear physicist working for a defense contractor. He can not find a job because no firms in the defense industry or any other industry are hiring people with his skills. Juan is ______________ unemployed
A) frictionally
B) cyclically
C) structurally
D) naturally
C
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Figure 3-2
In Figure 3-2, the production possibilities frontier has a bowed-out shape because of the law of
A. decreasing costs. B. increasing costs. C. demand. D. comparative advantage.
The Consumer Expenditure Survey measures
A) households' spending patterns. B) the wholesale price on what consumers buy so that a markup percentage can be found. C) the maximum price buyers will pay for a good or service. D) consumers' incomes. E) the jobs at which consumers work.
In the market for loanable funds, the demand curve:
A. represents savers. B. is downward sloping. C. reflects that more people will choose to save the higher is the interest rate. D. is upward sloping.
Recall the Application about the behavior of prices in retail catalogs to answer the following question(s). In the Application, Mark Bils and Peter Klenow's findings were:
A. different from Anil Kashyap's findings. They found prices changing more frequently. B. different from Anil Kashyap's findings. They found prices changing less frequently. C. similar to Anil Kashyap's findings. They found prices changing very frequently. D. similar to Anil Kashyap's findings. They found prices changing very infrequently.