A major characteristic of structural unemployment that differentiates it from frictional unemployment is that structural unemployment
A) exists only during a recession.
B) exists in an expansion whereas there is no frictional unemployment in an expansion.
C) is a short-term problem.
D) usually lasts longer than frictional unemployment.
D
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The quality adjustment bias of the CPI refers to the failure of statisticians to:
A. take into account price changes in goods and services. B. allow for the possibility that consumers switch from products whose prices are rising. C. take into account improvements in goods and services. D. allow for the possibility that consumers switch stores at which they shop.
An individual who is a risk lover
a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less than its expected value d. tends to play lots of lotteries
All inputs are increased by the same proportion and the output increases more than proportionately, this means that:
(a) Constant returns to scale are present. (b) Increasing returns to scale are present. (c) Decreasing Returns to Scale. (d) None of the above.
Indicate whether the inputs below are variable (V) or fixed (F) in the short run
