________ unemployment measures those out of work during the off-season, such as those employed in snow- or beach-related industries, agriculture, and/or holiday activities.
A) Seasonal
B) Frictional
C) Structural
D) Cyclical
E) Temporary
A) Seasonal
Explanation: A) Seasonal unemployment is somewhat cyclical in that the seasonal economy takes a downturn at the end of the season. However, in the strictest definition of the term it refers only to workers who hold seasonal jobs as their primary source of income.
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The natural rate hypothesis states that when the inflation rate ________, in the short run the unemployment rate ________ and in the long run the unemployment rate ________
A) falls, decreases; decreases B) rises, decreases; returns to the natural unemployment rate C) falls, increases; decreases D) falls, decreases; returns to the natural unemployment rate E) rises, decreases; decreases
Three friends stay in an apartment. Their landlord offers to air-condition the apartment if they pay for the installation charges. Although they all want an air-conditioner, none of them say so. This is an example of the ________
A) free-rider problem B) paradox of thrift C) tragedy of commons D) paradox of plenty
In the Cobb-Douglas production function, the index of the overall level of efficiency of transforming capital and labor into real GDP is called
A) total factor productivity. B) allocative efficiency. C) the marginal efficiency index. D) the transformation allocation of inputs.
The first independent federal railroad regulatory agency was:
a. Interstate Commerce Commission. b. Federal Trade Commission. c. Federal Bureau of Alcohol, Tobacco, and Fire Arms. d. United States Fair Trade Commission.