Sally Jones lost her job at a steel company because of a permanent decline in the demand for steel. Sally Jones is considered by economists to be
A) naturally unemployed.
B) cyclically unemployed.
C) structurally unemployed.
D) frictionally unemployed.
C
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Classical economists think general equilibrium is attained relatively quickly because
A) the real interest rate adjusts quickly. B) the level of output adjusts quickly. C) the real wage rate adjusts quickly. D) the price level adjusts quickly.
If companies decrease investment spending because of lower expected returns on projects, forecasters should anticipate (everything else the same) that
A) GDP will rise. B) the money supply will fall. C) interest rates will fall. D) saving will increase.
In short-run equilibrium, a perfectly competitive firm can never earn an economic profit.
Indicate whether the statement is true or false
A dividend is is paid by shareholders to firms.
Answer the following statement true (T) or false (F)