Structural unemployment occurs:
A. Because of a mismatch between skills and jobs.
B. When firms fail because of a seasonal downturn.
C. When an industry experiences a cyclical downturn.
D. When there is inadequate demand for jobs.
A. Because of a mismatch between skills and jobs.
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International trade between two nations increases the standard of living of both nations due to
A) specialization and gains from absolute advantage. B) specialization and gains from comparative advantage. C) high tariffs. D) political intervention.
For a particular good, a 5 percent increase in price causes a 15 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
a. There are many substitutes for this good. b. The good is a necessity. c. The market for the good is broadly defined. d. The relevant time horizon is short.
People who say that they would like to have a job, but have not made an effort to find a job in the past four weeks, are called ________ workers.
A. discouraged B. unemployed C. involuntary part-time D. chronically unemployed
If people experience rational inattention, then during the interval between the public's informational updates
A. the Phillips curve slopes downward. B. the Phillips curve slopes upward. C. the Phillips curve does not exist. D. the Phillips curve becomes vertical.