A lifeguard who is out of work in the winter is
A. frictionally unemployed.
B. seasonally unemployed.
C. cyclically unemployed.
D. structurally unemployed.
Answer: B
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Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 per bushel and so the quantity demanded changes from 1000 to 1400 bushels?
A) 1.5 B) 0.1 C) 10.0 D) 0.67
Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods b. tropical vacations c. pizza d. sports vehicles
Consider the above figure. Which of the following statements is correct?
A. In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D1 is less than the price elasticity of demand associated with demand curve D2. B. In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D1 is greater than the price elasticity of demand associated with demand curve D2. C. In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand is infinite. D. In any range of prices encompassing the crossing point of the two demand curves, the price elasticity of demand associated with demand curve D1 is equal to the price elasticity of demand associated with demand curve D2.
Involuntary part-time workers are:
A. short-term unemployed workers. B. chronically unemployed. C. considered out of the labor force. D. not counted as unemployed.