Employment in the agricultural sector has fallen from over 800,000 workers in the 1970s to about 100,000 workers in 2015 . This change came about because of the adoption of new technologies that have replaced manual labor. These unemployed workers thus find themselves in a position where their unemployment may be permanent unless they can develop new job skills and, perhaps, relocate. This is an
example of _____.
a. frictional unemployment
b. seasonal unemployment
c. cyclical unemployment
d. structural unemployment
d
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The total amount spent to buy new physical capital and replace old capital is referred to as
A) net investment. B) wealth. C) gross investment. D) savings. E) depreciation.
Profits earned by subsidiary are taxed even if it is not repatriated to the parent company as dividends because they are considered as income for the parent company.
A. True B. False C. Uncertain
The classical range of the aggregate supply curve is the portion where:
a. The average price level and real GDP do not change with movements in aggregate demand. b. Real GDP does not change with movements of aggregate demand, but the average price level does change. c. The average price level does not change with movements of aggregate demand, but real GDP does. d. The average price level and real GDP change with movements in aggregate demand.
Assume that a college student purchases only Ramen noodles and textbooks. If Ramen noodles are an inferior good and textbooks are a normal good, then the income effect associated with a decrease in the price of a textbook will result in
a. a decrease in the consumption of textbooks and a decrease in the consumption of Ramen noodles. b. a decrease in the consumption of textbooks and an increase in the consumption of Ramen noodles. c. an increase in the consumption of textbooks and an increase in the consumption of Ramen noodles. d. an increase in the consumption of textbooks and a decrease in the consumption of Ramen noodles.