A long-term mismatch between the skills of some workers and the jobs available is a principal cause of ________ unemployment.
A. global
B. cyclical
C. structural
D. frictional
Answer: C
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Caroline is an artist. She purchases canvas, paints, brushes, and accessories for $75. She sells one of her original paintings to an art gallery for $1,500, which, in turn, sells it to an art lover for $4,500. How much value does the gallery add?
A) $1,425 B) $1,500 C) $3,000 D) $4,500
The statistical discrepancy is
a. also known as the "errors and omissions term." b. the amount that must be added to balance the total balance of payments to make it equal to zero. c. the adjusted amount to balance the capital account. d. the adjusted amount to balance the current account. e. Both a and b
Suppose you were asked, "Can you guess the height of the tallest living man? Is it more than 8 feet?" When people suggest an answer in the question they ask, it is a form of:
A. anchoring. B. rule of thumb. C. time inconsistency. D. positive framing.
The horizontal segment of the aggregate supply curve
a. shows that real GDP can increase only by affecting the economy's price level b. shows that real GDP can increase without affecting the economy's price level c. depicts a positive relationship between real GDP and the price level d. depicts a negative relationship between real GDP and the price level e. marks the full-employment level of real GDP