Fred lost his factory job, replaced by welding robots. He is now going to technical school to learn computer repair because he cannot find a similar job to the one he lost. Fred is:
a. Frictionally unemployed.
b. Structurally unemployed.
c. Cyclically unemployed
d. Not unemployed.
d
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A good example of central planning at work in the U.S. is:
A. McDonald's fries being the same everywhere. B. New York City's rent control program. C. car manufacturers establishing suggested retail prices. D. unions working with businesses to establish wages.
The basic idea behind a negative income tax is to
A. help local government agencies deliver more services to the poor. B. increase the in-kind income of the poor. C. help the poor get job skills. D. help the poor without destroying incentives to work.
The central idea of the consensus vision of democracy is that policy should be determined by ______.
A. only the representatives B. those with minority preferences C. those with majority preferences D. as many citizens as possible
If a child is more apt to grow up to become a successful contributing member of society because of an education, this benefit to society is called a
A. positive marginal private cost. B. negative externality. C. positive marginal private benefit. D. positive externality.