A high school dropout with poor work habits, little experience, and no vocational training, who has been out of work for three years but is actively seeking employment, would be _____ unemployed.
A. Frictionally
B. Structurally
C. Cyclically
B. Structurally
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A financial institution that accepts deposits and makes loans is generally referred to as a(n)
A) central bank. B) commercial bank. C) monetary authority. D) investment bank.
Differentiate between the income effect and the substitution effect of a fall in the price of a good
What will be an ideal response?
Scarcity is:
A. a fact of life because of limited resources. B. not a problem for Bill Gates because he is a billionaire. C. can be eliminated by rational decision making. D. is a problem studied in microeconomics but is not a macroeconomic concern.
A terrible storm wipes out 70 percent of the peanut crop. Explain and show graphically how this will affect the market for peanut butter and the market for jelly, a complementary good