Unemployment involving a mismatch of the skills of unemployed workers and the skills required for available jobs is called:
A. frictional unemployment.
B. structural unemployment.
C. cyclical unemployment.
D. compositional unemployment.
B. structural unemployment.
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If we depict a simultaneous move, complete information game in a game tree, each player only has one information set no matter how many players there are in the game.
Answer the following statement true (T) or false (F)
Automated production methods are only attractive when they
a. are undertaken in heavily unionized sectors of the economy. b. reduce per-unit costs. c. replace workers. d. decrease labor productivity.
Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per DayNumber of MinersMother Lode10025Scraping Bottom3010Middle Drift7515 Suppose Earth Movers & Shakers needs to fill an order for 60 tons of ore in a single day. If it has no other orders for that day, it should:
A. take it all from Mother Lode. B. take it all from Middle Drift. C. take 20 tons from each of the three mines. D. take 30 tons from Scraping Bottom and 30 tons from Middle Drift.
You borrow $10,000 at an interest rate of 5% to open a snow cone stand. You will earn an economic profit if
A. the return on your investment is 5%. B. the return on your investment is greater than 5%. C. the return on your investment is between 0 and 5%. D. the return on your investment is 10% or greater.