Potential GDP is the level of output produced when the unemployment rate is
A) equal to the natural unemployment rate.
B) greater than the natural unemployment rate.
C) less than the natural unemployment rate.
D) zero.
E) made up of only cyclical unemployment.
A
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Overall, what type of economy are we in today?
A. Creative B. Agricultural C. None of the options listed. D. Knowledge E. Industrial
Gary, Kevin, and Joshua are three individuals who were previously employed but do not have jobs now. Gary lost his job a year ago
Although he would like to have a job, he has given up looking for one as he thinks there are no suitable jobs available for him. Kevin was working as a finance teacher, but quit his job a few months back to become a stock broker. Ever since he quit his job, he is unable to get a new one, although he is actively seeking. Joshua was employed in a steel mill. He lost his job when the labor union in his mill demanded a hike in wages. Classify the three individuals according to their type of unemployment.
Both screening and signaling:
A. are ways to decrease information asymmetry between two parties. B. correct inefficiency in the market. C. can increase surplus gained in a market. D. All of these statements are true.
Most economists believe that the higher average salaries earned by men in comparison to women arise from
a. discrimination. b. a variety of factors, including differences in human capital and compensating differentials; few economists believe that gender discrimination in earnings exists. c. differences in human capital as the primary reason. d. a variety of factors, including differences in human capital, compensating differentials, and discrimination.