Emily lost her job as a typesetter for the local newspaper when the newspaper's owner finally decided to computerize all printing operations. Emily has been searching, unsuccessfully, for another typesetting job in her small town
Emily would best be categorized as A) frictionally unemployed.
B) structurally unemployed.
C) cyclically unemployed.
D) seasonally unemployed.
B
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Full employment occurs when the
A) cyclical unemployment rate equals the natural unemployment rate. B) structural unemployment rate equals zero. C) unemployment rate equals the natural unemployment rate. D) natural unemployment rate equals the frictional unemployment rate. E) structural unemployment rate equals the frictional unemployment rate.
An example of in-kind income is: a. a welfare payment
b. a cash grant. c. a housing subsidy. d. an unemployment check.
The owners of a business
a. are paid the market rate of return for resources they supply to the firm. b. are residual income claimants. c. have little incentive to monitor shirking on the part of employees. d. have little incentive to provide their employees with an incentive system that encourages operational efficiency.
At what point does the marginal cost curve cross the average total cost curve?
a. at the lowest point on the ATC curve b. when ATC is near, but not at, zero c. when diminishing marginal product sets in d. at the highest point on the MC curve