The type of unemployment that occurs because of a recession is called:
a. frictional unemployment
b. seasonal unemployment.
c. the natural rate of unemployment.
d. cyclical unemployment.
d
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This profit-maximizing firm is making a profit or loss of about __________.
A. $800
B. $710
C. $510
D. $310
Developing countries have not benefited as much as expected from their higher education programs because of
(a) lack of program focus on the needs of the country. (b) increasing returns to scale in each individual's education. (c) graduates get jobs in the private sector. (d) all of the above.
Of the four effects on interest rates from an increase in the money supply, the one that works in the opposite direction of the other three is the
A) liquidity effect. B) income effect. C) price level effect. D) expected inflation effect.
A professor in your microeconomics lectures derived a labor demand curve in the lecture
Given some reasonable assumptions, she showed that the demand for labor depends negatively on the real wage. You want to put this hypothesis to the test ("show me") and collect data on employment and real wages for a certain industry. You try to estimate the labor demand curve but find no relationship between the two variables. Is economic theory wrong? Explain. What will be an ideal response?