According to Gordon, there is no pressing need for policies to reduce ________ unemployment
A) cyclical
B) structural
C) turnover
D) mismatch
C
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In the basic Keynesian model, a tax increase:
A. increases short-run equilibrium output. B. reduces potential output. C. increases potential output. D. reduces short-run equilibrium output.
Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0.3 percent. B) 1.1 percent. C) 1.4 percent. D) 1.7 percent.
"If the marginal product of labor curve slopes downward, then the average product of labor curve necessarily must slope downward." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
The income effect
a. of a price increase works to increase the quantity of the good demanded b. of a price increase works to decrease the quantity of the good demanded c. of a price decrease works to increase the quantity of the good demanded d. of a price decrease works to decrease the quantity of the good demanded e. of a price decrease could work to increase or decrease the quantity of the good demanded