Automobile workers in Detroit are unemployed because robots are now being used on assembly lines but, at the same time, job vacancies exist for computer programmers. In this case, the automobile workers are an example of:
A. Cyclical unemployment.
B. Structural unemployment.
C. Frictional unemployment.
D. Seasonal unemployment.
B. Structural unemployment.
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If the annual interest rate is 5% (.05), the price of a six-month Treasury bill would be:
A. $97.59 B. $95.25 C. $95.00 D. $97.50
A monopoly
A. Maximizes profits at the output level where MR > MC. B. Produces less output than a competitive industry, ceteris paribus. C. Maximizes profits at the output where P = MR. D. Charges the same price as a competitive industry, ceteris paribus.
Table 6.3: Population and Labor Force Year 1Year 5Working Age Population200 million250 millionLabor Force110 million145 millionEmployed106 million135 millionWhat is the labor force participation rate in Year 1 in Table 6.3?
A. 55.0 percent. B. 3.6 percent. C. 96.4 percent. D. 53.0 percent.
The graph shown best represents:
A. a missing market. B. a market for an inferior good. C. a non-binding price ceiling. D. a non-binding price floor.