Fred has lost his factory job, replaced by welding robots, and soon plans to go to technical school to learn computer repair because he cannot find a similar job to the one he lost. The type of unemployment facing Fred is:
a. frictional.
b. structural.
c. cyclical
d. natural.
b
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A risk-averse person has
a. utility and marginal utility curves that slope upward. b. utility and marginal utility curves that slope downward. c. a utility curve that slopes down and a marginal utility curve that slopes upward. d. a utility curve that slopes upward and a marginal utility curve that slopes downward.
Related to the Economics in Practice on page 155: Which of the following would be most likely to make it more efficient for delivery trucks to drive more quickly?
A. an increase in the hourly wage of truck drivers and a decrease in the cost of gasoline B. an increase in the hourly wage of truck drivers and an increase in the cost of gasoline C. a decrease in the hourly wage of truck drivers and a decrease in the cost of gasoline D. a decrease in the hourly wage of truck drivers and an increase in the cost of gasoline
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and reserves account in the context of the Three-Sector-Model? a. The real risk-free interest rate falls and reserves account becomes more
negative (or less positive). b. The real risk-free interest rate rises and reserves account becomes more negative (or less positive). c. The real risk-free interest rate and reserves account remain the same. d. The real risk-free interest rate rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The overuse of a common resource relative to its economically efficient use is called
a. the free rider problem. b. the Tragedy of the Commons. c. a public good. d. cost-benefit analysis.