What are three examples of occupations that are expected to experience a rapid decline in employment from 2010-2020? Why are these occupations likely to experience this decline?
What will be an ideal response?
Examples include: (1) shoe machine operators; (2) postal service mail sorters; (3) postal service clerks; (4) fabric/apparel pattern makers; (5) postmasters/mail superintendents; (6) sewing machine operators; (7) switchboard operators; (8) textile cutting machine operators; (9) textile knitting/weaving machine operators; (10) and semiconductor processors. Many of these jobs are in declining or stagnant industries due to “labor-saving” technological change; for example, automated or computerized equipment has reduced the need for file clerks and a variety of machine operators. The U.S. demand for textiles and apparel is increasingly being filled by imported goods, which affects domestic employment in that industry. Postal service workers are less in demand because of greater use of the Internet to send e-mail that replaces the use of regular mail.
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In Ordinary Least Squares Regression, the gap between the value of the dependent variable and the predicted value is called
A) the error term. B) the minimizing coefficient. C) the residual. D) the explanatory variable.
After a binding price floor becomes effective, a
a. smaller quantity of the good is bought and sold. b. a larger quantity of the good is demanded. c. a smaller quantity of the good is supplied. d. All of the above are correct.
A monopolist maximizes profits by
a. producing an output level where marginal revenue equals marginal cost. b. charging a price that is greater than marginal revenue. c. earning a profit of (P - MC) x Q. d. Both a and b are correct.
Which is an example of a market failure?
A. The price of medical care has risen dramatically as a result of the introduction of sophisticated equipment and techniques. B. Polio shots and chest x-rays provide widespread benefits to the community as a whole as well as to the individuals who get them. C. Extensive decreases in the prices of electronic equipment resulted in large numbers of bankruptcies in the computer industry. D. There are not enough tickets available to concerts of extremely popular performers.