Structural unemployment occurs because of fundamental changes in the nature of the economy
a. True
b. False
Indicate whether the statement is true or false
True
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Using the above table, the labor force is
A) 380,000. B) 911,000. C) 930,000. D) 569,000.
Suppose that U.S. firms outsource plane manufacturing jobs to China, it is expected that
A) the wage rate for workers manufacturing planes will decrease in the U.S. but increase in China. B) the wage rate for workers manufacturing planes will increase in the U.S. but decrease in China. C) the wage rate for workers manufacturing planes will increase in both the U.S. and China. D) the wage rate for workers manufacturing planes will decrease in both the U.S. and China.
Unemployment
a) falls when households save a larger fraction of their income. b) moves in the opposite direction as real GDP. c) rises during expansions. d) decreases as production falls.
An example of an industry that is an oligopoly would be
a. medical doctors b. auto manufacturing c. landscaping d. restaurants