Which of the following statements is correct?
A. Structural unemployment is unemployment resulting from changes in the structure of consumer demand or technology.
B. Search unemployment is the broadest unemployment category because it covers all other types of unemployment.
C. Frictional unemployment is the result of friction between labor and management over how best to perform work.
D. Cyclical unemployment is also called wait unemployment because this unemployment depends on the timing of the business cycle.
Answer: A
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Financial markets pay close attention to changes in the federal funds rate because these changes ________.
A. indicate commercial bank lending policies B. indicate the Fed's plans for monetary policy C. directly affect the interest payments on the national debt D. directly affect a large volume of loans
What will happen to the demand curve for tea workers if the price of tea increases, assuming all else equal?
A) There will be an upward movement along the demand curve for tea workers. B) There will be a leftward shift in the demand curve for tea workers. C) There will be a downward movement along the demand curve for tea workers. D) There will be a rightward shift in the demand curve for tea workers.
Which of the following would not be used by firms to deter shirking?
A) requiring employees to post a bond B) offering a bonus after five years of service C) paying more than the market wage D) paying less than the market wage
Villagers in Xiaogang, China, produced more rice than those in surrounding villages because:
a. they had better farmland. b. they were given better seeds. c. they were able to keep the output they produced individually. d. they made each family responsible for a certain, higher quota of rice production. e. they had common ownership over the rice produced.