The best example of a "frictionally unemployed" worker is one who:
a. Is in the process of voluntarily switching jobs
b. Is discouraged and not actively seeking work
c. Is laid off during a recessionary period in the economy
d. Reduces productivity by causing frictions in a business
a. Is in the process of voluntarily switching jobs
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In the figure above, the firm's economic
A) loss will be greater than $30 per day. B) loss will be $30 or less per day. C) profit will be between $0 and $30 per day. D) profit will be greater than $30.01 per day.
During a(n) ________ many firms experience reduced profits, which reduces ________ and investment spending
A) recession; government spending B) recession; cash flow C) expansion; cash flow D) expansion; business confidence
The Stackelberg model of oligopoly assumes that each of the two producers will choose prices instead of quantities and neither will change price in response to the other's decision
Indicate whether the statement is true or false
A midwestern farmer grows wheat and sells it to a miller for $500 . After processing, the miller sells the flour to a baker for $800, who then sells it to a grocery store for $1,000 . The grocery store sells it to customers for $1,200 . In these transactions, how much has been added to GDP?
a. $500 b. $800 c. $1,000 d. $1,200 e. $3,500