Sam has no job but keeps applying to get a job with a business that is unionized. He is qualified and he finds the pay attractive, but the firm is not hiring. Sam is
a. structurally unemployed. Structural unemployment exists even in the long run.
b. structurally unemployed. Structural unemployment does not exist in the long run.
c. frictionally unemployed. Frictional unemployment exists even in the long run.
d. frictionally unemployed. Frictional unemployment does not exist in the long run.
a
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The existence of external economies of scale
A) may be associated with a perfectly competitive industry. B) cannot be associated with a perfectly competitive industry. C) tends to result in one huge monopoly. D) tends to result in large profits for each firm. E) focuses more on individual firms than the industry as a whole.
Under the gold standard, a balance of payments surplus leads to an outflow of gold
a. True b. False Indicate whether the statement is true or false
According to U.S. water quality control policy, tradeable effluent permits
a. can be used to control both point and nonpoint polluting sources b. can achieve cost savings as long as polluters' MACs are unequal c. are generally sold by low-cost abaters d. all of the above e. none of the above
In the short run, which of the following is not correct?
a. Increasing the money supply increases the demand for goods and services. b. Increasing the money supply encourages firms to hire more workers. c. Lowering the money supply leads to a higher level of unemployment. d. Policies that encourage higher employment will also induce a lower rate of inflation.