Carol is a coal miner who just got laid off when the last coal mine in the area was shut down. She has looked everywhere for another job as a miner, but cannot find one. Given that Carol is unlikely to find another job as a miner, she would be considered:
A. real-wage unemployed.
B. Carol is a discouraged worker.
C. structurally unemployed.
D. frictionally unemployed.
Answer: C
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Charting observations on a semi-logarithmic graph will help the analyst to ascertain whether
A) absolute changes from period to period are constant. B) whether percentage changes from period to period are constant. C) whether percentage changes from period to period are declining. D) Both B and C
A monopolist finds the price-output combination that maximizes its profits by
A) equating total revenue and total cost. B) equating marginal revenue and marginal cost. C) finding the combination for which the difference between marginal revenue and marginal cost is the greatest. D) equating price and marginal cost.
In the short run, perfectly competitive firms can
A. make an economic profit. B. take a loss. C. break even. D. All of the responses are correct.
Some critics of antitrust are worried that some firms
a. will seek to increase competition to a dangerous level. b. will collude in order to avoid the laws. c. may use antitrust to prevent competition. d. may go out of business from large damage awards.