Unemployment that is caused by a mismatch of the demand for workers with certain skills and the skills of unemployed workers is:
a. frictional unemployment.
b. structural unemployment.
c. cyclical unemployment.
d. mismatch unemployment.
b
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When the production of a worker is relatively easily observable, the firm can pay a piece-rate
Indicate whether the statement is true or false
A reentrant is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.
Total cost is the
a. amount a firm receives for the sale of its output. b. fixed cost less variable cost. c. market value of the inputs a firm uses in production. d. quantity of output minus the quantity of inputs used to make a good.
When a monopolist maximizes profit, its marginal cost will
a. be less than its average fixed cost. b. be less than the price per unit of its product. c. exceed its marginal revenue. d. equal its average total cost.