Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family. She is currently looking for work, so she would be considered
A) cyclically unemployed.
B) avoidably unemployed.
C) frictionally unemployed.
D) a discouraged worker.
E) not in the labor force because she moved more than 150 miles.
C
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Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Dan should specialize in both sandwiches and smoothies. B. Dan should specialize in smoothies, and Tracy should specialize in sandwiches. C. Dan should specialize in sandwiches, and Tracy should specialize in smoothies. D. Tracy should specialize in sandwiches and smoothies.
The substitution effect of a wage increase is observed when
A) leisure's higher opportunity cost causes workers to take more leisure and work less. B) leisure's higher opportunity cost causes workers to take less leisure and work more. C) the higher wage income causes workers to take more leisure and work more. D) the higher wage income causes workers to take more leisure and work less.
The unemployment rate is the number of unemployed people, expressed as
a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population.
The larger the hub presence, the larger the hub ____________.
Fill in the blank(s) with the appropriate word(s).