Unemployment that occurs from fundamental technological changes in the production, or from the substitution of new goods for customary ones, is known as:
A. cyclical unemployment.
B. seasonal unemployment.
C. frictional unemployment.
D. structural unemployment.
Answer: D
You might also like to view...
"One should never bother with WLS. Using OLS with robust standard errors gives correct inference, at least asymptotically." True, false, or a bit of both? Explain carefully what the quote means and evaluate it critically
What will be an ideal response?
The supply curve of labor is typically upward sloping because
a. a decrease in the wage rate causes workers to work more hours b. the opportunity cost associated with giving up leisure time rises c. some workers leave the industry when the wage rate is too high d. all workers show the same willingness to work at a given wage rate e. the price of the good rises as more workers are hired and more output is produced
If the price of inputs rises when a nation is in the intermediate range:
a. Real GDP remains the same and average price level falls. b. Real GDP remains the same and average price level rises. c. Real GDP remains the same and average price level remains the same. d. Real GDP falls and average price level rises. e. Real GDP falls and average price level falls.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.