Structural unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand.
B. unemployment caused by workers who are changing their location, job, or career.
C. the effect of wages remaining persistently above the market-clearing level.
D. when workers voluntarily quit their jobs.
A. a mismatch between the skills workers can offer and the skills that are in demand.
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Big Woods is a lumber firm that sells plywood sheets to local builders. If the annual holding cost of a sheet of plywood is $8 and the managers of Big Woods order 700 sheets of plywood, what is the total annual carrying costs of the inventory?
A) $2,800 B) $5,600 C) $2,000 D) $6,000
If the CPI was 101.7 in 2006 and 101.5 in 2007, it can be concluded that
a. 2001 was the base year b. all goods were more expensive in 2007 than in 2006 c. all goods were less expensive in 2007 than in 2006 d. all goods were less expensive in 2006 than in 2007 e. the price level fell from 2006 to 2007
One unintended consequence of the various attempts to restrict farm acreage was that
A) output generally decreased, price increased, and farmers earned higher incomes. B) individual farmers intensified their efforts to harvest crops from the land still under cultivation. C) farmers' incomes remained constant in real terms. D) the land that was set aside became less productive.
When the Fed reduces the discount rate, this sends a signal to banks that the Fed wants:
A. the money supply to contract. B. to reduce the reserve requirement. C. the money supply to expand. D. the federal funds rate to increase.