Which of the following statements is correct?
a. Technological advances always lead to the permanent displacement of workers
b. In a growing and dynamic economy, jobs are constantly being destroyed and created.
c. Without unemployment insurance, the average duration of unemployment would likely be longer.
d. If there is a balance between demand and supply in the labor market, frictional employment must equal zero.
b
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Firms in perfect competition produce the productively efficient output level in the short run and in the long run
Indicate whether the statement is true or false
Which type of resource will improve through more education and training by workers?
A) money B) physical capital C) natural resources D) human capital
Which of the following is correct?
A. i. A surplus puts downward pressure on the price of a good. B. ii. A shortage puts upward pressure on the price of a good. C. iii. There is no surplus or shortage at equilibrium. Question 8 options: D. i and ii. ii and iii. i, ii, and iii. only iii. i and iii.
Compared to our trade deficit with Japan from 2002-2009, our deficit with China was
A. much larger. B. slightly larger. C. slightly smaller. D. much smaller.