What is frictional unemployment?
What will be an ideal response?
Frictional unemployment is unemployment that occurs naturally during the normal workings of the economy, such as workers taking time to to search for suitable jobs and companies taking time to search for qualified employees.
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In understanding and analyzing "market supply," we focus on how much all firms
A. will supply in the future at various prices. B. want to supply at a given price. C. are willing and able to supply at different prices. D. have sold in the recent past at various prices.
A change in the price of one good, such as staples, may affect the quantity demanded of another good, such as rubber bands.
Answer the following statement true (T) or false (F)
The percentage of elementary and secondary educational expenditures financed by the federal government _____ between 1940 and 2000
a. increased from 5 to 10 percent b. increased from 2 to 7 percent c. stayed relatively constant around 5 percent d. increased from 3 to 13 percent
It often appears as if there are "too few" workers at the Department of Motor Vehicles (DMV) to service all of its customers at a given point in time. Based on one of theories discussed in the textbook, this is probably because
A) the equilibrium "price" to be served by the DMV is lower than the "price" charged customers. B) the equilibrium "price" to be served by the DMV is higher than the "price" charged customers. C) the equilibrium "price" to be served by the DMV minus the "price" charged to customers is zero. D) b and c E) none of the above