Structural unemployment includes:
a. unemployment caused by workers who leave positions to seek better jobs
b. unemployment caused by automation that displaces workers from their jobs.
c. unemployment caused by a decline in the economy's total production.
d. unemployment caused by the geographical and occupational mobility of the labor force.
b
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At prices below a consumer's willingness to pay:
A. the buyer will not participate in the market because the opportunity cost is more than the benefit from consuming the good. B. the buyer will not participate in the market because the opportunity cost is less than the benefit from consuming the good. C. the buyer will participate in the market because the opportunity cost is more than the benefit from consuming the good. D. the buyer will participate in the market because the opportunity cost is less than the benefit from consuming the good.
A monopsonist hires labor in a market with perfectly competitive supply. Whenever she hires an additional worker,
a. she must reduce the wage paid to all workers already hired. b. she will not change the wage paid to all workers already hired. c. she must raise the wage paid to all workers already hired. d. she may or may not choose to change the wage paid to all workers already hired.
Adults who were waiting to be recalled to a job from which they had been laid off are included in the Bureau of Labor Statistics' "employed" category
a. True b. False Indicate whether the statement is true or false
Increasing productivity per person:
A. is highly undesirable, as it leads to increases in GDP per capita. B. is highly desirable, as it leads to economic growth. C. is unavoidable, and macroeconomists work to prevent it. D. can harm an economy if misallocated.