Louise is unemployed due to a decrease in the demand for workers with a knowledge of a certain word processing language. This is an example of:
a. cyclical unemployment.
b. frictional unemployment.
c. involuntary unemployment.
d. structural unemployment.
d
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Which of the following is a measure of economic growth that is most useful for measuring changes in the overall size of an economy?
A. decreases in the rate of unemployment B. increases in real GDP C. increases in real GDP per capita D. growth in nominal GDP
What is the difference between wage differentials caused by differences in human capital and compensating wage differentials?
What will be an ideal response?
If individuals have money illusion, they react to changes in certain prices without regard to simultaneous changes in other prices
Indicate whether the statement is true or false
Which of the following best describes what will happen to equilibrium if large numbers of people cancel cable television subscriptions in exchange for subscriptions to on-demand movies and televisions providers like Netflix and Hulu?
a. A change in tastes away from cable television causes a leftward shift in the demand curve, a decrease in the equilibrium quantity, and an increase in the equilibrium price. b. A change in tastes away from cable television causes a rightward shift in the demand curve, a decrease in the equilibrium quantity, and a decrease in the equilibrium price. c. A change in tastes away from cable television causes a leftward shift in the demand curve, an increase in the equilibrium quantity, and a decrease in the equilibrium price. d. A change in tastes away from cable television causes a rightward shift in the demand curve, a decrease in the equilibrium quantity, and a decrease in the equilibrium price.