Structural unemployment is:
A. the effect of wages remaining persistently above the market-clearing level.
B. a mismatch between the skills workers can offer and the skills that are in demand.
C. when workers voluntarily quit their jobs.
D. unemployment caused by workers who are changing their location, job, or career.
Answer: B
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Using the data in the above table
A) the variables quantity and price are positively related. B) the variables quantity and price are negatively related. C) the variables quantity and price are neither positively nor negatively related. D) an increase in price is likely to cause an increase in quantity.
In the "cost of capital channel" of monetary policy, a higher interest rate __________ spending
A) raises consumption B) raises investment C) lowers consumption D) lowers investment
Which of the following would encourage consumers to economize on their use of healthcare and producers to provide it more efficiently?
a. a reduction in out-of-pocket healthcare expenditures b. government subsidies that encourage people to purchase health insurance policies with first-dollar coverage and small co-payments c. Medicare reform that at least partially substituted defined benefits (funds that could be used to pay for healthcare or the purchase of insurance) for the present cost reimbursement system d. all of the above
Can a monopolist that can charge only one price maximize its profit at a quantity that is equal to the quantity produced if the industry were perfectly competitive?
A. No. Never. B. Yes, if the fixed costs are zero. C. Yes, if the marginal costs are zero. D. Yes, if the total costs are zero.