For twenty years, Jim was a customer service representation at a call center in Minnesota. In order to save money, his firm moved the call center to India and laid off Jim two years ago. Jim has been unable to find a similar job anywhere
Jim's unemployment is best classified as
A) cyclical. B) competitive. C) structural. D) frictional. E) transported.
C
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In a monopolistically competitive market, entry into the industry
A. is relatively easy. B. is blocked. C. is as difficult as entry into a monopoly. D. is difficult due to extensive government regulation.
An unanticipated decline in investment demand within the new classical model will cause
a. the price level to fall with no effect on output. b. output to fall with no effect on the price level. c. both the price level and output to fall. d. no change in either the level of price or output.
If a good is inferior and its price increases,
a. the income effect will be positive and the substitution effect will be positive. b. the income effect will be negative and the substitution effect will be negative. c. the income effect will be positive and the substitution effect will be negative. d. the income effect will be negative and the substitution effect will be positive.
An example of a Pigovian tax would be a tax on:
A. income. B. cigarettes. C. corporate capital gains. D. All of these are examples.