Structural unemployment occurs because
A. new jobs are created, while old jobs cease to be viable.
B. there are long-term mismatches between workers skills and jobs available.
C. jobs differ in their location, skills required, and working conditions.
D. the economy is experiencing a period of unusually low production.
Answer: B
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Use the following table with data for a private closed economy (an economy with only a private sector and no international trade) to answer the next question. All figures are in billions of dollars.Expected Rate of ReturnInvestmentConsumptionGDP10%$0$400$4008100500600620060080043007001,00024008001,20005009001,400If the real rate of interest is 2%, then the equilibrium level of real GDP will be
A. $800 billion. B. $1,200 billion. C. $1,400 billion. D. $1,000 billion.
The downward slope of a demand curve
A) represents the law of demand. B) shows that as the price of a good rises, consumers increase the quantity they demand. C) indicates how the quantity demanded changes when incomes rise and the good is a normal good. D) indicates how demand changes when incomes rise and the good is a normal good. E) indicates how demand changes when the price changes and the good is a normal good.
Vertical integration can
A) lower transaction costs due to lower costs of writing and enforcing contracts. B) increase management costs and complexity. C) reduce problems between owners and managers. D) All of the above.
What is not included in America's poverty count?
A. In-kind transfers. B. Immigrants. C. High school dropouts. D. Teen moms.