Example of structural unemployment?
A. Factory worker temporally laid off during a recession.
B. Recent Graduates
C. A mother chooses to stay with child instead of working.
D. Unskilled worker can't get hired because the minimum wage is too high.
E. A retired person living off her saving.
D. Unskilled worker can't get hired because the minimum wage is too high.
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The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition and the government intervenes by setting a support price of $15 a ton. The quantity produced once the price support is in place is
A) 400 million tons. B) 300 million tons. C) 100 million tons. D) 250 million tons. E) 200 million tons.
A consumer who buys any amount of a good will realize a positive consumer’s surplus from that good.
Answer the following statement true (T) or false (F)
The decrease in consumer spending that occurred after the collapse of the housing bubble caused aggregate:
A. supply to increase. B. demand to decrease. C. demand to increase. D. supply to decrease.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.