Which of the following contributes to structural unemployment?
A. People over 65 who don't really want to work.
B. A general short-run downturn in the economy.
C. People quitting a job just long enough to look for and find another one.
D. People losing a job when their skills become obsolete due to technological innovations.
Answer: D
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When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is full of customers c. shopping when the car lot has many cars left unsold d. shopping toward the beginning of the month
If the increase in government spending is $200 and the multiplier is 2.5, then the change in real gross domestic product will be _____
a. $200 b. $300 c. $500 d. $700
Which of the following is not a reason why firms experience economies of scale?
A) Technology can make it possible to increase production with a smaller increase in at least one input. B) Workers and managers can become more specialized, enabling them to be more productive. C) Larger firms may be able to purchase inputs at lower costs than smaller competitors. D) As output increases, the managers can begin to have difficulty coordinating the operations of their firms.
Disinflation refers to a situation where:
A. Price level falls, but the rate inflation does not B. Price level rises, but the rate of inflation does not C. The rate of inflation falls, but the price level does not D. The rate of inflation rises, but the price level does not