Steel workers laid off from their jobs as the result of a recession are considered:
A. structurally unemployed.
B. cyclically unemployed.
C. frictionally unemployed.
D. seasonally unemployed.
Answer: B
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Answer the next question(s) based on the information given in the following table.EmploymentTotal ProductProduct Price00$3112322233303436354036423If the firm is hiring workers under purely competitive conditions at a wage rate of $10, it will employ
A. 2 workers B. 3 workers C. 4 workers D. 5 workers
Cigarettes served as money in some prisoner of war (POW) camps during World War II. Given this, we would expect to observe
A) no one ever smoking a cigarette. B) prices of other goods expressed in terms of cigarettes. C) only government-issued cigarettes being accepted as money. D) people usually resorting to barter rather than using cigarettes as money.
Suppose real GDP was 120 in year 1 and 156 in year 2. The growth rate of real GDP is
A) 5.6 percent. B) 18 percent. C) 30 percent. D) 36 percent.
Discuss the relationship between the business cycle and changes in autonomous expenditures
What will be an ideal response?