Of all the categories of unemployment, most unemployed persons fall into the category of
A) reentrant.
B) new entrant.
C) job leaver.
D) job loser.
E) none of the above
D
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The increase of the real money supply by 10% by the Federal Reserve when the unemployment rate rises by 1% is an example of
A) the conduct of procyclical monetary policy. B) the utilization of feedback policy rule. C) the utilization of rigid policy rule. D) the conduct of nondiscretionary fiscal policy.
Assuming the firm in the graph is producing Q1 and charging P3, it is likely:
These are the cost and revenue curves associated with a firm.
A. in long-run equilibrium.
B. an efficient outcome.
C. not maximizing profits.
D. operating at a loss.
The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls Per HourNumber of Telephones Per HourNumber of Workers Per Hour11221461616182211024112 If the price of a telephone increases to from $5 to $10 an hour and nothing else changes, then:
A. marginal cost would not change. B. total cost would not change. C. marginal cost would increase by $5 at every level of output. D. average total cost would increase by $5 at every level of output.
Restaurants, video rental stores, clothing stores, and music stores are examples of industries in which firms differentiate their products by offering them at more locations. This is an example of a(n) ________ market.
A. perfectly competitive B. monopoly C. monopolistically competitive D. oligopoly