Which of the following is true?
a. Structural unemployment is caused by the fact that it takes a short time to search for a job.
b. Cyclical unemployment is caused by the fact that it takes a short time to search for a job.
c. Frictional unemployment is caused by a lack of skills or information about jobs.
d. Structural unemployment is caused by a lack of skills or information about jobs.
e. Cyclical unemployment is caused by a lack of skills or information about jobs.
D
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Who was one of the first proponents of employing market economies instead of command economies?
a. Robert Heilbroner. b. Karl Marx. c. Jeffrey Sachs. d. Adam Smith.
Grocery stores often place items people buy on impulse at the checkout lane. This is an example of:
A. irrational behavior. B. price fixing. C. choice architecture. D. government intervention.
Retirement benefits are less like ________, and more like ________
A. private insurance; collective savings program. B. savings programs; private insurance. C. social insurance programs; social savings programs. D. None of these is true.
Refer to the following table. In billions of dollarsGDP5.0Government Purchases1.0Transfer payments0.2Exports0.4Imports0.5Net foreign factor income0.4The sum of investment and consumption in this economy is:
A. $4.1 trillion. B. $6.0 trillion. C. $3.6 trillion. D. $3.9 trillion.