Frictional unemployment is a variation in unemployment caused by:
a. the economy moving from expansion to recession or from recession to expansion.
b. people changing jobs within the economy.
c. people lacking skills valued by the labor market.
d. seasonal changes in the weather such as the temperature getting hotter.
b. people changing jobs within the economy.
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Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12. The most probable interpretation of these data is that the
A. supply and demand curves are shifting to the right. B. supply and demand curves are shifting to the left. C. supply curve has shifted to the left, with no change in demand. D. demand curve has shifted to the right, with no change in supply.
The table above shows the supply of loanable funds and the demand for loanable funds schedules
a. What is the equilibrium real interest rate and the equilibrium quantity of loanable funds? b. If the real interest rate is 4 percent, is there a shortage or surplus? What will happen in the market?
Refer to Scenario 9.1. The Nash equilibrium occurs when Sheb places ________ sheep on the commons and Monty places ________ sheep on the commons
A) 4; 4 B) 4; 5 C) 5; 4 D) 5; 5
The figure above illustrates the effect of
A) an increase in real GDP. B) a decrease in real GDP. C) an increase in the monetary base. D) a decrease in the monetary base.