People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) cyclical unemployment.
B) frictional unemployment.
C) seasonal unemployment.
D) structural unemployment.
E) unnatural unemployment.
Ans: D) structural unemployment.
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What is the current WTO policy regarding environmental standards and trade?
What will be an ideal response?
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A. are meant to reduce; adverse selection B. are meant to reduce; moral hazard C. unintentionally worsen; adverse selection D. unintentionally worsen; moral hazard
An economic model is a(n)
a. philosophical inquiry b. set of numbers that describe a firm (e.g., profits and assets) c. abstract representation of reality d. concrete representation of reality e. ideal to which economic entities are compared
If marginal revenue is $10 and marginal costs is $8, the firm should increase its output.
Answer the following statement true (T) or false (F)