Kevin has lost his job in an automobile plant because the company switched to robots for its welding step in the assembly line. Kevin plans to go to technical school to learn how to repair microcomputers. The type of unemployment Kevin is faced with is:
A. Cyclical
B. Frictional
C. Structural
D. Natural
C. Structural
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If output changes in fixed proportion to a change in all of a firm’s productive resources, the firm has
a. constant marginal returns. b. constant returns to scale. c. decreasing marginal returns. d. decreasing returns to scale.
The price of the stock divided by the profits per share of stock is known as the
A) price-earnings ratio. B) dividend. C) yield in percent per year. D) number of shares traded during the day.
Part of the reason for the success of Facebook is:
A. the avoidance of a positive externality. B. a strong negative network externality. C. a strong positive network externality. D. the avoidance of a negative externality.
In general, the unemployment rate does not vary greatly by:
A. gender. B. educational status. C. height D. age.