Which of the following is an example of a worker experiencing cyclical unemployment?
A) an assembly line worker who loses his job because of automation
B) a worker who quits his job because he does not get along with his boss
C) a worker who changes jobs to move closer her family
D) a lifeguard who was hired during the summer season is laid off after summer is over
E) a freightliner employee that got laid off because of the recession of 2007-2009
E
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In the Fixed Time Effects regression model, you should exclude one of the binary variables for the time periods when an intercept is present in the equation
A) because the first time period must always excluded from your data set. B) because there are already too many coefficients to estimate. C) to avoid perfect multicollinearity. D) to allow for some changes between time periods to take place.
Economics is the study of decisions made necessary by the problem of unlimited wants and limited means to satisfy them
a. True b. False Indicate whether the statement is true or false
An essential characteristic of a perfectly competitive market is:
A. goods are standardized. B. sellers are price makers. C. buyers and sellers share market power. D. goods are unique.
Refer to the accompanying figure, which shows the annual domestic supply and annual domestic demand for jeans in a small country.
If the world price of a pair of jeans is $40, and this country is open to trade with the rest of the world, then it will ________ pairs of jeans each year.
A. export 4,000 B. import 28,000 C. import 24,000 D. export 24,000