Which of the following is considered to be the best method of production?
a. Capital-intensive method
b. Least-cost method
c. Labor-intensive method
d. Scarce resource method
b
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________ unemployment occurs due to a mismatch between the jobs that are available and the skills of workers seeking jobs
A) Frictional B) Cyclical C) Voluntary D) Structural
The primary reason for an aging population is:
a. increased life expectancies and lower fertility rates. b. a decreased need for elders to enter nursing homes. c. advances in pharmaceutical innovation. d. improvements in the treatment of chronic illness. e. the expansion of insurance coverage because of Medicare.
When OPEC reduces output to keep prices high, OPEC is acting as a:
A. producer moving along a supply curve, cutting output as price falls. B. producer in a contestable market. C. price taker. D. cartel.
The primary tools the government uses for contractionary fiscal policy are
A. tax increases and government purchase reductions. B. tax reductions and government purchase increases. C. tax increases and government purchase increases. D. tax reductions and government purchase reductions.