Caroline tells her friend Octavia to keep searching for a job because there are plenty of jobs in the area for which she is qualified. This advice is most appropriate for which of the following types of unemployment?
A) structural unemployment
B) frictional unemployment
C) cyclical unemployment
D) seasonal unemployment
B
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A key assumption in the classical model is
A) sticky wages. B) pure competition exists. C) sticky prices. D) the government plays a major role in economic problems.
The key difference between oligopoly and other market structures is the interdependence among producers.
Answer the following statement true (T) or false (F)
Economists normally assume that the goal of a firm is to (i) earn profits as large as possible, even if it means reducing output. (ii) earn revenues as large as possible, even if it means reducing profits. (iii) minimize costs, regardless of profits
a. (i) only b. (i) and (ii) only c. (ii) and (iii) only d. (i), (ii), and (iii)
Which system is the least difficult to maintain if you are running a trade deficit?
A. The free market exchange rate system B. The floating exchange rate system C. The fixed exchange rate system D. The managed float exchange rate system