Frictional unemployment is the result of
a. not enough jobs for everyone to be employed.
b. unemployed workers' skills not matching those needed for the available jobs.
c. a decline in the demand for labor, such as during a recession.
d. imperfect information and temporary periods of unemployment while workers are changing jobs.
D
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According to the liquidity premium theory, if market participants expect that inflation in the future will be lower than it currently is, the yield curve will
A) slope upward. B) be flat. C) be inverted. D) be vertical.
If the total cost of production for 1000 widgets is $2000 and marginal cost is constant at $1, what is the average fixed cost for the 1000 widgets?
A) $2 B) $1.50 C) $1 D) $0.50
Income taxes create a wedge between the wage rate paid by ________ and received by workers and thereby ________ employment and ________ potential GDP
A) firms; raise; decrease B) households; lower; decrease C) firms; lower; decrease D) firms; lower; increase E) firms; raise; increase
Based on labor-market studies using regression analysis, once productivity-related characteristics are accounted for, the remaining wage gap between women and men is approximately
A) 2%. B) 5%. C) 15%. D) 20%.