Use the following choices regarding the various types of unemployment to describe this situation. George was laid off by his trucking firm because of a recession.
A. Frictional unemployment
B. Structural unemployment
C. Natural unemployment
D. Cyclical unemployment
D. Cyclical unemployment
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When applying the marginal principle, you should pick the level at which the activity's marginal benefit equals its marginal cost
Indicate whether the statement is true or false
To achieve faster growth, one possibility is to tax
A) consumption. B) saving. C) hiring. D) immigration.
A constant-elasticity demand function can be obtained by:
A) taking the logarithm of the dependent variable only. B) taking the logarithm of the independent variable(s) only. C) taking the logarithm of the dependent and independent variable(s). D) taking the reciprocal of the dependent variable(s).
A firm has average fixed costs of $0.20 and average variable costs of $2.50 at an output of 500 units. The firm's total costs are therefore
A) $1,250. B) $1,350. C) $1,150. D) $1,500.