A cutback in the space program due to a slow economy causes an increase in unemployment among aeronautical engineers. This is an example of
A) cyclical unemployment.
B) frictional unemployment.
C) seasonal unemployment.
D) structural unemployment.
A
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Which of the following statements is false? In the circular flow model:
A) the funds needed to finance investment spending come from the saving of households. B) GDP can be measured either by the income received or by the expenditures made. C) factor payments are made to business firms. D) consumption expenditures are made by households.
People's decision about whether to hold money or bonds can be influenced by the interest rate
a. True b. False
An economics-based reason for unemployment is that people are who are unemployed are:
a. inherently lazy and have no desire to work. b. unable to remain employed for a long period of time. c. not willing to work at the current equilibrium wage. d. evolving and seeking to be more spiritual.
If a used car dealer purchases a used car for $3,000, makes repairs and refurbishes it, then sells it for $8,000, the
a. dealer contributes value added equal to $5,000, but nothing is added to GDP. b. dealer contributes value added equal to $5,000, and consequently $5,000 is added to GDP. c. dealer contributes nothing to production because only existing goods are involved. d. dealer contributes value added equal to $8,000, but only $5,000 is added to GDP.