Structural unemployment:
A. is also known as frictional unemployment.
B. is the main component of cyclical unemployment.
C. is said to occur when people are waiting to be called back to previous jobs.
D. may involve a locational mismatch between unemployed workers and job openings.
D. may involve a locational mismatch between unemployed workers and job openings.
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
How might a market research analyst use measures of elasticity—price, cross, and income—in her work? Explain.
What will be an ideal response?
A family of four with one wage earner who earns the minimum hourly wage would be
A. well below the poverty line. B. slightly below the poverty line. C. slightly above the poverty line. D. well above the poverty line.
The marginal physical product (MPP) is calculated by
A) dividing total physical product by labor. B) dividing the change in total physical product by the change in the input. C) dividing the change in total cost by the change in labor. D) the difference between the output of skilled and unskilled workers.