A student who just graduated from college but has not found a job would most likely be
A) cyclically unemployed. B) frictionally unemployed.
C) seasonally unemployed. D) structurally unemployed.
B
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What can lead to the shift illustrated in the figure above?
What will be an ideal response?
According to your text, what is the significant distinction between the government and the nongovernment sector of society?
A) Government decisions are made by collectives rather than by individuals. B) Government is usually granted the right to coerce adults. C) Government officials pursue the public interest rather than narrow special interests. D) Government takes the long-run view and thus cares for the interests of future generations. E) The government sector is not characterized by competition.
In perfect competition, the product of a single firm
A) has many perfect substitutes produced by other firms. B) has many perfect complements produced by other firms. C) is sold under many differing brand names. D) is sold to different customers at different prices.
The unemployment rate of full-employment is also called the
A. cyclical rate of unemployment. B. natural rate of unemployment. C. frictional rate of unemployment. D. potential rate of unemployment.