NPR ("Certain Green Industries Have Job Openings", November 12, 2008 ) reported on a story about wind turbine manufacturers in Ohio having trouble finding skilled workers
The report noted that as a result tens of thousands of people having been laid off, there is "a huge pool of job-seekers." The firms claim to "offer good pay and benefits." A representative from the United Steelworkers claims that their union members have easily transferrable skills, but the pay is too low, around $30,000 annually. A manager at Apollo Alliance says that workers in the new industry need different skills than those in the old steel industry. The type of unemployment described in the story is ________ unemployment. A) cyclical
B) structural
C) frictional
D) efficiency wage
B
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If a government wants to maximize revenues from a tax, it should
A) impose it on sellers. B) impose it on consumers. C) choose a good with a relatively elastic demand. D) choose a good with a relatively inelastic demand.
The long-run Phillips curve:
a. is downward sloping. b. is upward sloping. c. shows there is no tradeoff between unemployment and inflation. d. is horizontal at the natural rate of inflation.
To cause the interest rate to fall, the Fed can
a. decrease the money supply b. stabilize the money supply to increase investor confidence c. decrease the price of bonds d. increase the money supply e. increase the demand for money
The U.S. dollar: a. is the most ancient form of money
b. is an example of modern money. c. is backed by gold. d. is accepted everywhere around the world.