Sonia was a great bookkeeper 20 years ago, then left the workforce to stay home and raise her children. Now that they're in college, Sonia looks for another bookkeeping job, but they all require computer skills that she doesn't have. Sonia would be considered:
A. frictionally unemployed.
B. seasonally unemployed.
C. structurally unemployed.
D. Sonia is not in the labor force.
Answer: C
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Certain countries remain backward because they nurture superstition and are suspicious of new technology. This argument is based on the:
A) geography hypothesis. B) location hypothesis. C) culture hypothesis. D) capital hypothesis.
When a firm maximizes its profit, which of the following is correct for firms in monopolistic competition and perfect competition?
A) P = MC for both types of firms. B) P = MR = MC for firms in perfect competition and P > MR = MC for firms in monopolistic competition. C) MR = MC for firms in perfect competition and MR > MC for firms in monopolistic competition. D) P > MR = MC for firms in both perfect competition and monopolistic competition. E) P = ATC always for firms in both perfect competition and monopolistic competition.
Which of the following is a microeconomics topic?
a. the price of a new home b. the inflation rate c. the economy's growth rate d. the unemployment rate e. forecasts of recession
Which statement is true about economic rent?
A. It doesn't exist. B. Every jobholder earns it. C. No jobholder earns it. D. Professional athletes generally earn it.