When the automobile replaced the horse as the primary means of transportation, the unemployment rate of blacksmiths increased. This was an example of
A. cyclical unemployment.
B. frictional unemployment.
C. seasonal unemployment.
D. structural unemployment.
Answer: D
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Indicate whether the statement is true or false
The Navigation Acts (1651 and later amendments)
(a) defined the British Empire within Europe and restricted shipping and trade between it and the external world. (b) had a major purpose of enlarging and protecting the King of England's income derived from trade through shipping and trade. (c) advanced free trade across the British Empire. (d) held true for all of the above.
Refer to the table that presents Mike and Janet's demand for apples by the bushel. If they are the only two in the market, a market demand curve derived from this data would show quantity demanded is:Price per peckMike Quantity in pecksJanet Quantity in pecks$1226$2183$3140$4100$560
A. 21 at price = $1 and 17 at price = $2. B. 22 at price = $1 and 18 at price = $2. C. 28 at price = $1 and 21 at price = $2. D. 21 at price = $1 and 28 at price = $2.
Define the following terms and explain their importance to the study of macroeconomics
a. central bank b. Federal Open Market Committee c. supply of money d. monetary policy