The invention of the telegraph led to the loss of jobs for those who had delivered mail by horse but created jobs for telegraph operators and delivery persons. This is an example of
a. structural unemployment created by efficiency wages.
b. structural unemployment created by sectoral shifts.
c. frictional unemployment created by efficiency wages.
d. frictional unemployment created by sectoral shifts.
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
Refer to the table above. At what price does the market for notebooks clear?
A) $3 B) $4 C) $2 D) $5
Private information is a situation in which
A) two parties to an exchange have information that is available to outsiders if they ask. B) one party to an exchange has information that is not available to the other. C) the marginal cost of a person's obtaining additional information is zero. D) the marginal cost of making information available to one more person is zero.
The long-run aggregate supply curve (LRAS) is: a. a vertical curve that relates the level of real GDP produced to the price level in the long run
b. an upward sloping curve that relates the level of real GDP produced to the price level in the long run. c. an infinite curve that relates the level of real GDP produced to the price level in the long run. d. none of the above are true.