Use the following choices regarding the various types of unemployment to describe the following situation. After staying home for 23 years raising her four children, Susan has reentered the labor force looking for full-time employment.
A. Frictional unemployment
B. Structural unemployment
C. Natural unemployment
D. Cyclical unemployment
A. Frictional unemployment
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If the graph shown is displaying a competitive labor market:
A. D would represent the workers' demand for jobs at each wage. B. Q* would represent the equilibrium wage. C. P* would represent how many people are employed in the market. D. Q* would represent the equilibrium number of workers in the market.
How does the expenditure multiplier change when investment spending increases?
a. It increases. b. It decreases. c. It does not change. d. It briefly increase before returning to equilibrium.
Nonprice rationing will happen whenever there is excess supply in a market.
Answer the following statement true (T) or false (F)
Refer to the graph shown. With an effective price floor at Pf, the effect is an implicit tax on:
A. consumers shown by area B and a subsidy to suppliers of that area. B. consumers shown by area C and a subsidy to suppliers of that area. C. suppliers shown by area B and a subsidy to consumers of that area. D. suppliers shown by area C and a subsidy to consumers of that area.