Frictional unemployment is:
A. unemployment caused by workers who are changing their location, job, or career.
B. a mismatch between the skills workers can offer and the skills that are in demand.
C. the most alarming cause of unemployment.
D. the effect of wages remaining persistently above the market-clearing level.
Answer: A
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"Because a firm's supply curve slopes upward, the long-run supply curve of an industry must also slope upward." Do you agree or disagree? Explain
What will be an ideal response?
Colombia produces coffee with less labor and land than any other country; it therefore surely has
a. an absolute advantage in coffee production. b. a comparative advantage in coffee production. c. absolute efficiency in coffee production. d. a comparatively absolute advantage in coffee production.
Every point on a ________ represents the minimum cost at which the associated output level can be produced when the scale of plant can be changed.
A. long-run demand curve B. marginal cost curve C. long-run variable cost curve D. U-shaped long-run average cost curve
A move from K to L represents a
A. change in quantity supplied.
B. change in supply.
C. increase in supply.
D. decrease in supply.