When a mall Santa Claus loses his job at the end of the Christmas season, this is an example of
a. frictional unemployment
b. structural unemployment
c. frictional unemployment
d. seasonal unemployment
e. economic unemployment
D
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The figure above shows a production possibilities frontier. In the figure, the economy faces a tradeoff when ________ cell phones and ________ DVDs. are produced
A) 2 million; 9 million B) 4.5 million; no C) 3 million; 8 million D) 5 million; 15 million E) 3 million; 9 million
At a monopolistically competitive firm's current level of product development, marginal revenue of product development is greater than its marginal cost. The firm will ________
A) sell only new products B) increase product development only if the consumer benefits C) decrease product development D) increase product development
A(n) ________ is a tax on imports that is stipulated as a money amount per unit.
A. specific tariff B. ad valorem tariff C. optimal tariff D. effective tariff
Which of the following is an example of something that economists would consider a cost but accountants would not?
A. the wages paid to employees of a firm B. the wages that the owner of a firm could have earned in some alternative job C. rent paid to a business's landlord D. the cost of leather used in the production of footballs