If the wage is kept above the equilibrium wage for any reason, the result is
a. cyclical unemployment.
b. frictional unemployment.
c. seasonal unemployment.
d. structural unemployment.
d
You might also like to view...
High money prices for scarce goods
A) are one among many possible causes of their scarcity. B) are the basic cause of their scarcity. C) are the effect of their scarcity. D) have nothing to do with their scarcity, because almost all goods are scarce.
Which of the following would be included in this year's gross domestic product (GDP)?
a. One hundred shares of IBM stock that Tony sold this May b. A used car that Tracey sold to Justin c. George's purchase of a fishing rod and reel at a garage sale d. Sharon giving Dennis $20 as a reward for finding her ring e. A bucket of Kentucky Fried Chicken that Kate bought this July
If the price of a good in a closed economy is lower than the world price, then with an open economy this country will be a ________ of that good.
A. net exporter B. net importer C. price taker D. price setter
Suppose the market for coffee is in equilibrium at a price of $5 per pound. This means that:
A. any producer who sells coffee can earn a positive economic profit. B. potential producers not producing coffee have reservation prices less than $5 per pound. C. potential consumers not buying coffee value it at less than $5 per pound. D. everyone can afford to buy coffee.