Michael lost his job as a night security guard because he kept falling asleep at the job. Now he is looking for a new job. Michael is
A) frictionally unemployed.
B) not unemployed.
C) structurally unemployed.
D) cyclically unemployed.
E) none of the above.
A) frictionally unemployed.
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The exchange rate converts
a. one currency value to another b. labor units to output units c. miles to kilometers d. physical capital units to human capital units e. none of the above
Suppose a patent applicant approaches an insurance company and seeks to purchase an insurance policy that her patent will not net $1m in the next three years. The insurance company
A) will sell her an insurance policy because the proposal entails uncertainty not risk. B) will sell her an insurance policy because the proposal entails risk not uncertainty. C) will not sell her an insurance policy because the proposal entails uncertainty not risk. D) will not sell her an insurance policy because the proposal entails risk not uncertainty.
In the long run, which of the following explains why are there no changes to returns to capital and wages when FDI or labor immigration occurs?
a. World prices of output are unchanged. b. Marginal productivities are unchanged. c. There is no change in the capitallabor ration in either industry. d. World prices of output and marginal productivities are unchanged.
There would be only one way to reduce the national debt; that would be to _______.
Fill in the blank(s) with the appropriate word(s).