A high school dropout with poor work habits, little experience, and no vocational training, who has been out of work for three years but is actively seeking employment, would be _____ unemployed.
A. Frictionally
B. Structurally
C. Cyclically
B. Structurally
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Healthcare price controls will lead to
a. more innovative healthcare treatments. b. waiting lines and lengthy delays for treatment. c. higher quality healthcare services. d. an increase in the supply of healthcare services.
Establishing a list of favored customers is an alternative rationing mechanism to price rationing.
Answer the following statement true (T) or false (F)
As the number of sellers in an oligopoly becomes very large,
a. the quantity of output approaches the socially efficient quantity. b. the price approaches marginal cost. c. the price effect is diminished. d. All of the above are correct.