Which of the following is an example of a worker experiencing frictional unemployment?
A) A computer programmer loses her job because it is outsourced to India.
B) An employee is laid off because the economy is suffering a recession.
C) A worker quits his job at the Post Office to find more interesting work.
D) A United Airlines pilot loses her job because of lack of demand for air travel.
C
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The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find. B) that investors will be more optimistic about the economy. C) that stock prices are more likely to fall. D) it is more likely that an incumbent president will be re-elected.
All else equal, if the demand for capital decreases and the supply of capital does not change, the equilibrium real rental cost of capital will ________ and the equilibrium quantity of capital will ________
A) increase; increase B) decrease; not change C) decrease; decrease D) not change; decrease
A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that
A) the demand curve faced by a monopolistically competitive firm is downward sloping, while the demand curve faced by a perfectly competitive firm is horizontal. B) profits are positive for a monopolistically competitive firm and zero for a perfectly competitive firm. C) profits are zero for a monopolistically competitive firm and positive for a perfectly competitive firm. D) marginal cost equals the market price for a monopolistically competitive firm but not for a perfectly competitive firm.
The short run sequence of events following an unanticipated shift to restrictive monetary policy would be higher interest rates followed by dollar
a. depreciation, higher exports, and lower imports. b. depreciation, lower exports, and higher imports. c. appreciation, lower exports, and higher imports. d. appreciation, higher exports, and lower imports.