A mismatch between the geographic location of workers and the location of job openings would result in what type of unemployment?
a. Cyclical
b. Frictional
c. Structural
d. Wait
c. Structural
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Which of the following is an example of an intermediate good?
A. An antique car sold to the highest bidder B. A pair of skis sold by a sporting goods retailer to a skier C. The lumber produced by Boise Cascade and sold to a builder of old houses D. A share of IBM stock
If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn
a. True b. False Indicate whether the statement is true or false
A transfer payment is the tax one pays when transferring real estate.
Answer the following statement true (T) or false (F)
A minimum wage in the formal sector will likely
a. reduce the number of formal-sector workers b. increase labor supply and lower wages in the informal sector c. encourage rural-urban migration d. lead to increased mechanization in the formal sector e. all of the above