When displaced workers require retraining before entering the labor force again, it is the result of ________ unemployment
A) structural B) cyclical C) seasonal D) frictional
A
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The food processing industry in Richland accounts for 20% of its GDP
Which of the following will happen if firms in this industry become pessimistic about the future demand for their products? Assume that consumption and government expenditure remains unchanged. A) Richland's unemployment rate will fall. B) Richland's interest rate will increase. C) Richland's inflation rate will increase. D) Richland's GDP will fall.
Suppose the Fed sells a $50,000 U.S. Treasury security to Martha, a member of the public. If Martha writes a check to the Fed in order to buy this security, the money in her checking account will be transferred to
A) the Fed, and now the Fed will have $50,000 more in reserves than it had before. B) her bank, and now her bank will have $50,000 more in reserves than it had before. C) the Fed, and now it is as if the money doesn't exist. D) the Treasury, and now the Treasury will have $50,000 more in reserves than it had before.
A production process is a specific combination of resources used to produce a good or service.
Answer the following statement true (T) or false (F)
Many beaches have a lifeguard on duty during the summer but not during the winter. The most likely explanation for this is that:
a. the marginal cost of having a lifeguard on duty varies over the year and tends to be lower during the summer. b. the marginal benefit of having a lifeguard on duty is higher during the summer when more people are at the beach. c. people understand that if you go swimming at the beach during the winter, you do so at your own risk. d. there is no danger of drowning at the beach during the winter.