Fred was working as a sales rep for a firm, and just completed an MBA by taking courses at night. Fred quits his job to pursue a management position. Fred would be considered:
A. structurally unemployed.
B. frictionally unemployed.
C. classically unemployed.
D. underemployed.
Answer: B
You might also like to view...
Many unions attempt to raise the hourly wages received by their members by restricting the supply of workers firms can hire from. Assuming the demand for workers who belong to these unions is inelastic, this would cause:
A) wages of individual union members to decrease and the total (combined) income of union members to increase. B) wages of individual union members and the total (combined) income of union members to decrease. C) wages of individual union members to increase and the total (combined) income of union members to decrease. D) wages of individual union members and the total (combined) income of union members to increase.
The trade deficit and federal budget deficit plagued which U.S. presidential administration with high inflation and low levels of production and employment?
(a) Franklin D. Roosevelt (1933–45) (b) Dwight D. Eisenhower (1953–61) (c) John F. Kennedy (1961–63) (d) Ronald W. Reagan (1981–89)
Which of the following statements best describes an effect of tax cuts?
a. In a recession, when the intersection of the AD and AS curves is far below the full-employment level, tax cuts can do not make sense as a way of shifting AD to the left. b. In a recession, when the intersection of the AD and AS curves is far below the full-employment level, tax cuts do not make sense as a way of shifting AD to the right. c. In a recession, when the intersection of the AD and AS curves is far below the full-employment level, tax cuts can make sense as a way of shifting AD to the left. d. In a recession, when the intersection of the AD and AS curves is far below the full-employment level, tax cuts can make sense as a way of shifting AD to the right.
Suppose in 2007, nominal GDP in Clarendon was $12,840 billion and real GDP was $10,560 billion. Calculate the value of the implicit price deflator. Follow the convention of multiplying price indexes by 100.
A. 21.59 B. 82.24 C. 121.59 D. 177.57