The amount of unemployment that arises because workers are temporarily between jobs or new entrants to the labor force is known as
a. structural unemployment.
b. cyclical unemployment.
c. frictional unemployment.
d. induced unemployment.
c. frictional unemployment.
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Fiscal policy involves which of the following?
A) interest rates B) tax policy C) buying and selling government-agency bonds D) none of the above
Based on the data in Table 3.1, if Jesse and April choose to specialize and trade, then
A) April will specialize in painting snowboards and trade snowboards for kites. B) Jesse will specialize in painting snowboards and trade snowboards for kites. C) April will specialize in painting kites and trade kites for snowboards. D) None of the above; specialization and trade are not beneficial for Jesse and April.
The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices from $9 to $11. Therefore, the cross-price elasticity for these two products is
A) -2.0. B) -0.5. C) 0.5. D) 2.0.
A preliminary conclusion about welfare reform is that
a. work requirements do seem to yield substantial declines in welfare caseloads b. work requirements cause welfare caseloads to increase c. such reform can only be instituted when the economy is strong d. welfare can be reformed even when the economy is weak e. welfare rolls decline faster when the economy is weak because more people need income during those times