The portion of unemployment that is attributable to an overall decline in the economy's business activity is called:
a. frictional unemployment.
b. underemployment
c. cyclical unemployment.
d. structural unemployment.
c
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The law of diminishing marginal returns in a manufacturing plant of a fixed capacity implies that, eventually, employing
A. one less worker will decrease the average product per worker. B. one less worker will not affect the average product per worker. C. one more worker will increase the average product per worker. D. one more worker will decrease the average product per worker.
The reason long run market supply curves are shallower than short run market supply curves is because individual firm supply curves are shallower in the long run than in the short run.
Answer the following statement true (T) or false (F)
The above table shows the distribution of wealth and income for Miseria. What percent of wealth is owned by the poorest forty percent of the population?
A) 0 percent B) 2 percent C) 5 percent D) 10 percent
A practice which might force employers to use more labor than they would otherwise is referred to as
A) wall propping. B) featherbedding. C) mothballing. D) yellow-dogging.