Liza had a job as a human resource manager of a restaurant chain that went out of business due to a downturn in the economy. This is an example of
A. cyclical unemployment.
B. seasonal unemployment.
C. structural unemployment.
D. technological unemployment.
Answer: A
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"Dad said he'd pay for my education whether I go to State or to Ivy College. So I chose Ivy College, even though it'll cost him $15,000 more in tuition each year!" Pick the correct statement:
A) Her opportunity cost is $15,000 each year. B) Her opportunity cost is the satisfaction she would have experienced at State. C) Whether she realizes it or not, her opportunity cost is infinite, just like her dad's love is infinite. D) She has no opportunity cost, because her dad will pay for her education.
Can frictional unemployment ever be totally eliminated? Explain your answer
What will be an ideal response?
Food stamps and Medicaid are in-kind transfer programs
a. True b. False
A rational person:
A. makes choices based on added benefits and added costs. B. considers the financial benefits and financial costs of making a choice. C. undertakes activities until the net benefits become less than zero. D. makes choices based on total benefits and total costs.