The reasons why someone cannot get a job are similar to the reasons why someone cannot get a date
Using the ideas of frictionally unemployed, structurally unemployed, and cyclically unemployed, describe and explain how a student at your university might be frictionally "undated," structurally "undated," and cyclically "undated."
The frictionally "undated" student does not have a date because of the search process of matching up people. It is an information search problem. There are lots of other students who would go out with the student, but it takes time to find them.
The structurally "undated" student does not match up with the characteristics of the other students looking for dates. Perhaps the structurally "undated" student is considerably older, from another region or country, or just has different preferences.
The cyclically "undated" student does not have a date because there are not many dates to be had—there is a recession in dates. This could be during final exams when most students do not date.
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If the equilibrium wage for fast-food restaurants is $8 and the government enforces a minimum wage of $15
A. workers will get paid less. B. workers will be able to find more jobs. C. overall, society will be better off. D. fast-food restaurants will hire fewer workers.
If real GDP grows by 3 percent, the velocity of circulation does not change, and the quantity of money grows by 5 percent, then in the long run the inflation rate is
A) 8 percent. B) -5 percent. C) 2 percent. D) 3 percent. E) -2 percent.
On car insurance policies, Countrywide Insurance Company offers drivers an option: Policy 1 features a deductible of $1,000, and it requires a driver to pay an annual premium of $500 . Policy 2 features a deductible of $250, and it requires a driver to pay an annual premium of $1,000
a. In offering these two policies, Countrywide is engaging in illegal price discrimination. b. In offering these two policies, Countrywide is screening drivers. c. Policy 1 is more of a burden for safe drivers than it is for risky drivers. d. In offering these two policies, Countrywide is signaling their quality to drivers.
Other things equal, economists would prefer:
A. free trade to tariffs and tariffs to import quotas. B. free trade to import quotas and import quotas to tariffs. C. import quotas to tariffs and tariffs to voluntary export restrictions. D. import quotas to free trade and free trade to tariffs.