Periods of unusually low production in an economy result in ________ unemployment.
A. frictional
B. structural
C. cyclical
D. environmental
Answer: C
You might also like to view...
History and Adam Smith both point out that people of the same trade
a. often face the temptation to engage in collusion. b. rarely consider engaging in collusion. c. meet only to consider how to improve the quality of their products. d. scrupulously avoid engaging in discussions about their trade since they are competitors.
In the scenario above, if both firms cheat on the agreement, producing more than the agreed amount, then
A) each firm makes zero economic profit. B) the outcome is identical to a monopoly. C) the industry's economic profit is the maximum profit that can be made by the duopoly. D) each firm makes a greater economic profit than it would make if it complied with the agreement.
The three approaches to measuring economic activity are the
A) cost, income, and expenditure approaches. B) product, income, and expenditure approaches. C) consumer, business, and government approaches. D) private, public, and international approaches.
Which of the following would increase the unemployment rate?
A) a law making it illegal to work more than 35 hours per week B) a cut in unemployment compensation C) an increase in unemployment insurance payments D) a decrease in the minimum wage