A worker who loses a job at a call center because business firms switch the call center to another country is an example of:
A. cyclical unemployment.
B. disguised unemployment.
C. frictional unemployment.
D. structural unemployment.
Answer: D
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If the desired reserve ratio rises, the money multiplier
A) decreases. B) increases. C) stays the same. D) probably changes but more information is needed to determine if it increases or decreases.
The U.S. antitrust enforcers determine whether a merger violates antitrust laws by examining
A. both the size of the market after the merger and the profits of the mergers. B. only the resulting change in the HHI but not the level of HHI after the merger. C. both the resulting change in the HHI and the level of post-merger HHI. D. whether the mergers are monopolies before they merge.
The extra cost associated with undertaking an activity is called
A) net loss. B) marginal cost. C) opportunity cost. D) foregone cost.
Let us suppose Harry's, a local supplier of chili and pizza, has the following revenue and cost structure:
A. Harry's should stay open in the long run
B. Harry's should shut down in the short run
C. Harry's should stay open in the short run
D. Harry's should shut down in the short run but reopen in the long run