Which of the following is NOT a possible cause of structural unemployment?
A) individuals take the time to search for the best job opportunities
B) a mismatch of worker training and skills with requirements of employers
C) government-imposed minimum wage laws
D) union activity that sets wages above the equilibrium level
A
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On May 12, 2011, the U.S. dollar was worth 0.61 British pounds. How many dollars did it take to buy one British pound?
a. 1.19 b. 1.61 c. 1.64 d. 2.19
A rise in the expected price level leads to an expectation that real wages will ____________, which will cause people to work __________, shifting the SRAS curve _______________
A) rise; more; rightward B) rise; less; leftward C) fall; more; rightward D) fall; less; leftward
The reason individual homeowners usually do not hire a private contractor to fill the potholes on their street is because:
A. it costs too much. B. the value to the neighborhood exceeds the cost of repair. C. others who use the street will be free riders. D. there are negative externalities associated with the repair.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.