Which is a correct statement?
a. Cyclical unemployment is also called wait unemployment because this unemployment depends on the timing of the business cycle
b. Structural unemployment is unemployment resulting from changes in the structure of consumer demand or technology
c. Search unemployment is the broadest unemployment category because it covers all other types of unemployment
d. Frictional unemployment is the result of frictions between labor and management over how best to perform work
b. Structural unemployment is unemployment resulting from changes in the structure of consumer demand or technology
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“Satisficing” rather than “maximizing” primarily emerges under conditions where
A. information is costly. B. management lacks ambition. C. profit maximization is rejected on moral grounds. D. risk is minimal.
The characteristics that create a vicious cycle of poverty in less developed countries are
a. low levels of current production and a declining population b. stagnant production, poor infrastructure, and a declining population c. low current output per capita, high population growth rates, and poor infrastructure d. inefficient governments, low current production, and low tax rates e. political instability and low population growth
Total revenue minus both explicit and implicit costs defines a firm's:
A. profit. B. net worth. C. gross earnings. D. marginal earnings.
In 2009, President Obama and Congress stimulated aggregate demand by
A. increasing taxes and government spending. B. decreasing taxes and government spending. C. increasing taxes and decreasing government spending. D. decreasing taxes and increasing government spending.