People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) cyclical unemployment.
B) frictional unemployment.
C) seasonal unemployment.
D) structural unemployment.
E) unnatural unemployment.
D
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What is a perfectly competitive firm's short-run supply curve?
What will be an ideal response?
If firms in an industry make output decisions that are partially based on the price and output decisions of their competitors, then these firms are in ________ market have ________ with the other firms in the market
A) an oligopoly; interdependence B) an oligopoly; no interdependence C) an oligopoly or monopolistically competitive; interdependence D) a monopolistically competitive; no interdependence
Business cycles affect long run growth because
a) uncertainty caused by business cycles deters investment b) installation costs for new plant and equipment are lower during recessions than during periods of expansion c) human capital depreciates during recessions d) the competition to survive a recession provides incentives for firms to reorganize for greater efficiency e) all of the above
A linear downward-sloping demand curve has price elasticities (in absolute values) that
A) increase as price decreases. B) remain constant along the demand curve. C) decrease as price decreases. D) are greater than or equal to 1.