Which of the following can be considered an example of structural unemployment?
a. A recent graduate searching for his first job
b. A ski instructor looking for a part-time job during summer
c. An engineer looking for a new job after losing his job during a recession
d. A typist looking for a new job as his skills are not needed in the current labor market
d
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Transactions costs refer to
A) the cost of transporting goods from one destination to another. B) the raw material cost of production. C) the costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services. D) the implicit costs of production.
If leisure activities become more attractive, there will be a
A. Rightward shift of the labor supply curve. B. Movement up the labor supply curve to the right. C. Movement down the labor supply curve to the left. D. Leftward shift of the labor supply curve.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Measures of income before intervention are calculated on an annual rather than a lifetime basis.
A. True B. False C. Uncertain