Automobile workers in Detroit who are unemployed because of foreign imports at the same time that job vacancies exist for coal miners in West Virginia would most likely be classified as
A. Seasonally unemployed.
B. Frictionally unemployed.
C. Structurally unemployed.
D. Cyclically unemployed.
Answer: C
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Based on the above table, which shows the firms and sales in an industry, what is the approximate value of the Herfindahl-Hirschman Index?
A) 1,660 B) 2,300 C) 4,800 D) 10,000
Restricting entry to a profession through licensing or certification requirements
A) increases welfare. B) decreases welfare. C) may increase or decrease welfare. D) leaves welfare unchanged.
Which of the following statements best describes Keynes’ viewpoint of individual markets?
a. He argued that individual markets for goods and services were appropriate and useful, regardless of the level of aggregate demand. b. He argued that individual markets for goods and services were appropriate and useful, but that sometimes that level of aggregate demand was just too low. c. He argued that individual markets for goods and services were appropriate and useful, but that sometimes that level of aggregate demand was just too high. d. He argued that individual markets for goods and services were appropriate and useful, but only when the level of aggregate demand was low.
The expenditure approach to GDP accounting includes:
a. wages and salaries.
b. net exports.
c. net interest.
d. corporate profit.
e. proprietors' income.