Cyclical unemployment is defined as unemployment that results from:
A. fluctuations in economic activity.
B. structural changes in the economy.
C. the aging of the population.
D. changes in technology.
Answer: A
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In August of 2013, the number of employed persons in the United States was 144.2 million, the number of unemployed persons was 11.3 million, and the number of persons not in the labor force was 90.5 million
What was the working-age population in August of 2013? A) 155.5 million B) 246.0 million C) 234.7 million D) 101.8 million E) There is not enough information to answer this question.
One way the United States has tried to encourage welfare recipients to acquire human capital is by
A) providing a free college education. B) setting a 1-year limit on temporary assistance. C) tax rebates. D) requiring a adult member of the household to either work or perform community service.
Graphically, economic growth is represented as
A) a movement along the production possibilities curve. B) a movement from a point inside the production possibilities curve to a point on the curve itself. C) an inward shift of the production possibilities curve. D) an outward shift of the production possibilities curve.
Which of the following type of firm is not a price taker in the market in which the firm buys its inputs?
a. Perfect competition. b. Monopsony. c. Oligopoly. d. Monopoly.