Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment
a. frictional
b. structural
c. cyclical
d. abnormal
b
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Refer to Table 18.1. Panama has a comparative advantage in
A) gloves. B) hats. C) both hats and gloves. D) neither hats nor gloves.
Refer to Table 2-18. What is Mickey's opportunity cost of making a hat?
A) 1/10 of an umbrella B) 1/5 of an umbrella C) 5 umbrellas D) 10 umbrellas
M1 and M2 are
a. usually equal b. aggregates that, when added together, encompass all methods of payment c. nonofficial measures of the U.S. money supply d. both measures of the U.S. money supply e. the best way to measure the U.S. money supply
(Last Word) "The government deregulated the electricity industry in California and a shortage of electricity soon occurred. It is clear that the deregulation caused the shortage." This statement needs careful analysis because it may reflect the:
A. fallacy of composition. B. post hoc, ergo propter hoc fallacy. C. use of loaded terminology. D. law of averages.