A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. The people laid off are considered
A) cyclically unemployment.
B) frictionally unemployment.
C) seasonally unemployment.
D) structurally unemployment.
A
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The shape of the long-run Phillips curve suggests that over a long time horizon there is a magnified trade-off between the unemployment rate and inflation
a. True b. False Indicate whether the statement is true or false
Ceteris paribus, an increase in the price of a good will cause the: a. quantity demanded of the good to increase
b. quantity supplied of the good to decrease. c. supply of the good to increase. d. consumer surplus derived from the good to decrease.
Recessions in Canada and Mexico would cause
a. the U.S. price level and real GDP to rise.
b. the U.S. price level and real GDP to fall.
c. the U.S. price level to rise and real GDP to fall.
d. the U.S. price level to fall and real GDP to rise.
When real rates of interest are positive, it is better to be a:
A. borrower than a saver, because the value of savings and debts are increasing. B. saver than a borrower, because the value of savings and debts are increasing. C. borrower than a saver, because the value of savings and debts are decreasing. D. saver than a borrower, because the value of savings and debts are decreasing.