Unemployment that results from a mismatch between worker qualifications and the characteristics employers require is called _________ unemployment.
A. cyclical
B. frictional
C. search
D. structural
Ans: D. structural
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Economic expansions might lead to inflation because an expansion leads to
A) a decrease in the unemployment rate, which decreases wages. B) an increase in the unemployment rate, which decreases wages. C) an increase in the unemployment rate, which increases wages. D) a decrease in the unemployment rate, which increases wages.
The underground economy means that GDP will overstate the actual level of economic welfare
Indicate whether the statement is true or false
The table above shows the marginal benefit from pizza and the marginal cost of pizza in cans of soda forgone
If ________ pizzas are produced, the quantity of soda that people are willing to give up to get an additional pizza is more than the quantity of soda that they must give up to get that additional pizza. A) any quantity other than 40 B) 40 C) more than 40 D) fewer than 40
Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____
a. marginal cost b. variable cost c. marginal rate of technical substitution d. total cost e. none of the above