Short-term unemployment that is associated with the process of matching workers with jobs is called ________ unemployment.
A. cyclical
B. structural
C. frictional
D. technological
Answer: C
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Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Stanley purchases the novel, "Night of Sorrows" for his summer reading pleasure
A) K and G B) J and G C) J and M D) K and M
The largest component of national income is:
A) compensation of employees B) proprietor's income C) rental income D) corporate profits
There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per pack, the quantities demanded by each are 3, 2, and 1, respectively. At a price of $1.50 per pack, the quantities demanded by each are 4, 5, and 3, respectively. Which of the following is true?
a. The market demand curve for playing cards does not obey the law of demand. b. The price decrease causes the quantity demanded in this market to increase by 6. c. The price decrease causes John's demand curve to shift the most. d. At a price of $1 per pack, the quantity demanded in this market must be 20. e. Don's behavior does not obey the law of demand.
An advance in technology results in:
a. suppliers offering a larger quantity than before at each given price. b. suppliers offering the same quantity as before at a lower price. c. a rightward shift of the supply curve. d. an increase in supply. e. all of these.