The three types of unemployment are
What will be an ideal response?
frictional, structural, and cyclical unemployment.
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At the equilibrium price, the quantity that buyers are willing to purchase is ______ to the quantity that sellers are willing to supply.
a. exactly equal b. almost equal c. more than d. less than
Refer to Scenario 3.1 below to answer the question(s) that follow.SCENARIO 3.1-Streaming movies and movies shown in theaters are substitutes. -Streaming movies and OLED TVs are complements. -OLED TVs and movies shown in theaters are normal goods. -People watch streaming movies more often in the winter than in the summer.Refer to Scenario 3.1. You observe that the price of streaming movies is higher in the winter than in the summer. This would be explained by the fact that
A. demand for streaming movies is higher in the winter than in the summer. B. the quantity demanded of streaming movies is higher in the winter than in the summer. C. consumer income tends to fall in the winter and increase in the summer. D. there are more streaming movies released in the winter than in the summer.
You own a business that answers telephone calls for physicians after their offices close. You have an incentive to substitute capital for labor if the
A. price of labor decreases. B. price of capital decreases. C. marginal product of labor increases. D. price of capital increases.
Which of the following statements is TRUE about the market demand curve for labor?
A) The market demand curve is the sum of the individual firm's demand curve. B) The market demand curve will be perfectly inelastic since firms need labor. C) The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products. D) The market demand curve depends upon labor productivity, the wage rate and the price of the final product.