Suppose the country of Tiny Town decided to open its borders to free trade. As a result, a number of its workers lost their jobs to international competition and can't find new jobs because their skills don't match what is required for job openings
The workers who lost their jobs and searched for new ones are best be considered part of A) frictional unemployment.
B) structural unemployment
C) cyclical unemployment.
D) discouraged workers.
B
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A monopolist that chooses price
A) necessarily produces less than a monopolist that chooses quantity, hence the laws against price fixing. B) produces the same amount as a monopolist that chooses quantity. C) produces more than a monopolist that chooses quantity, thus the irony of laws against price fixing. D) could produce more or less than a monopolist that chooses quantity since the demand curve is not specified.
Total cost equals total variable cost plus marginal cost
a. True b. False Indicate whether the statement is true or false
If the reserve ratio is 20 percent and a bank receives a new checkable deposit of $100, this bank
a. must increase required reserves by $20. b. will initially see its total reserves increase by $200. c. will be able to make new loans up to a maximum of $20. d. will be allowed to make new loans of up to $100. e. all of the above are true.
The civilian labor force includes
A) The number of people in the Armed Services. B) The number of employed persons. C) The number of employed and unemployed persons in the economy. D) None of the above.