Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment.
A. frictional
B. structural
C. cyclical
D. seasonal
Answer: B
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A recurring theme in economics is that people
A. can increase resources by limiting their economic wants. B. have unlimited resources but limited economic wants. C. have unlimited economic wants but limited resources. D. have limited economic wants and limited resources.
The neoclassical growth theory concluded that economic growth is temporary because of a population explosion that occurs as a result of economic growth
Indicate whether the statement is true or false
You love bananas. Due to a bad crop harvest, supply of bananas dropped in half. The price for bananas is expected to double in the near future. As a result,
a. your demand for banana will increase when the price doubles b. your demand for banana increases today. c. your demand for peanut butter decreases today d. it does not affect your demand as you love bananas
Which country is currently the biggest producer of greenhouse gases?
a. Russia b. United States c. China d. India