Unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of jobs is called
A) unnatural unemployment.
B) seasonal unemployment.
C) structural unemployment.
D) cyclical unemployment.
E) frictional unemployment.
C
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Economists use the term normal good to refer to goods that
a. you consume on a daily basis. b. you consume more of when your income falls. c. you consume more of when your income rises. d. consumers choose the same quantities of regardless of income.
Unemployment is a
A) flow concept. B) both a flow and a stock concept. C) stock concept. D) neither a stock nor a flow concept.
An increase in the real exchange rate
A) makes imports more expensive. B) makes imports less expensive. C) does not affect import values. D) always makes the number of imports rise. E) makes domestic consumers spend more on only foreign imports.
Gross Domestic Product is the market value of
a. all exchanges made during the course of a year b. all final goods produced during the course of a year c. all monetary transactions during the course of a year d. all the goods produced during the course of a year over and above what is required to maintain the population and the stock of capital e. all final goods sold during the course of a year