Frictional unemployment is
A) related to job search difficulties for potential workers.
B) a result of a poor match of worker's abilities and skills with current requirements of employers.
C) a result of business recessions that occur when aggregate demand is insufficient to create full employment.
D) a result of the seasonal pattern of work in specific industries.
A
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If demand for a product increases, ceteris paribus, the equilibrium
A) quantity decreases. B) price increases. C) price remains unchanged. D) price decreases.
The number of unemployed divided by the labor force equals
A) the inflation rate. B) the labor force participation rate. C) the unemployment rate. D) the misery index.
When a firm grows to such an extent that it is unable to coordinate between its employees properly it is likely to experience economies of scale
a. True b. False Indicate whether the statement is true or false
Which of the following reasons helps explain why the aggregate demand curve is downward sloping?
A. The real balances effect or wealth effect: Consumers spend more on goods and services when the price level falls because lower prices increase consumer purchasing power. B. The producer-push effect: At less than full employment, increases in quantity demanded will raise price, and thus will motivate sellers to produce more. C. The hidden inflation effect: As the price level rises, consumers fail to recognize that prices are higher, and consequently they fail to reduce expenditures on goods and services. D. The cost-pull effect: As costs of production rise, consumers are pulled to buy more of the products they want most.