Cyclical unemployment
A. arises from recessions.
B. arises from the time it takes employers to find appropriate employees.
C. is due to seasonal changes.
D. is due to changes in the structure of the economy.
Answer: A
You might also like to view...
A college must decide if it wants to offer more adult literacy classes. This decision involves answering the economic question of "what to produce."
Indicate whether the statement is true or false
The above figure shows the payoff matrix facing an incumbent firm and a potential entrant. Assuming a fixed cost of entry, the incumbent will deter entry because
A) it is more profitable than accommodating entry. B) it increases consumer surplus. C) the potential entrant winds up with zero profit. D) the incumbent would earn zero profit if it accommodated entry.
What is it called when the price paid for a variable input is less than its marginal revenue product?
A) bilateral monopoly B) monopsonistic exploitation C) monopolistic exploitation D) featherbedding
Perfectly competitive markets are:
A. the most common type of market in our economy. B. hard to find in a real world setting. C. made up principally by consumer goods. D. typically found in industrial sectors of our economy.