Ans: d. cyclically
In automobile manufacturing, many parts of the production process that were once completed by people are now completed using robotics. Workers who lost their jobs as a result of the use of robotics became __________ unemployed.
a. frictionally
b. structurally
c. naturally
d. cyclically
Economics
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Suppose we observe that both the equilibrium price of film cameras and the equilibrium quantity of film cameras have fallen. Which of the following could be responsible for this?
A) Consumers' preferences changed in favor of digital cameras. B) technological advances in film camera production C) Workers who make cameras received a pay raise. D) The price of digital cameras increased.
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Among 33 major economies, government spending (relative to GDP) in the United States is ________
A) relatively low B) remarkably high C) about average D) lowest of all
Economics
Four firms are major manufacturers in different industries. Which firm is likely in an oligopolistic market?
a. Firm A finds that increasing its output raises its average total cost. b. Firm B competes against many rivals in its industry. c. Firm C earns zero long-run economic profit. d. Firm D is uncertain about its marginal revenue curve.
Economics
Which of the following is the most important nonmarket transaction omitted from the GDP?
a. service of housewives or househusbands b. tending small gardens c. bartering between two people d. mowing the lawn
Economics