Which of the following is an example of structural unemployment?
A. Alan, a software engineer, lost his job when the internet startup he worked for went bankrupt. He interviewed with five companies in the area before taking a job with another firm in the industry.
B. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked.
C. Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up.
D. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year.
Answer: D
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Arguments against the balanced budget amendment include all of the following EXCEPT
A) a balanced budget amendment would turn control of the federal budget over to the Judicial Branch. B) a balanced budget amendment would induce Congress to issue more mandates to states to increase spending. C) a balanced budget amendment would reduce the taxation burden on future generations. D) a balanced budget amendment would limit Congress from using fiscal policy during a recession.
In the above figure, the monopsony wage rate is ________ and the quantity of labor is ________
A) $7.00; 150 hours B) $8.00; 200 hours C) $6.00; 100 hours D) $8.00; 100 hours
Which of the following describes the relationship between bond prices and bond yields?
a. There is a positive relationship between the yield and the price. b. Every 1% increase in the bond price results in a 2% increase in the yield. c. When the bond price is greater than the annual interest, yield is greater than one. d. Bond price divided by the bid price is equal to the yield. e. There is an inverse relationship between the yield and the price.
If autonomous consumption decreases, which of the following would occur in the short run?
a. a decrease in GDP, a decrease in the price level, a decrease in money demand and a decrease in the interest rate. b. an increase in GDP, an increase in the price level, an increase in money demand and an increase in the interest rate. c. a decrease in GDP, an increase in the price level, an increase in money demand and an increase in the interest rate. d. an increase in GDP, a decrease in the price level, a decrease in money demand and an increase in the interest rate. e. a decrease in GDP, a decrease in the price level, an increase in money demand and an increase in the interest rate.