Monica recently lost her job as a teller at the bank. The bank explained that they were replacing Monica and others with ATM machines. Monica falls into a category of unemployment known as
A. cyclical unemployment.
B. frictional unemployment.
C. structural unemployment.
D. seasonal unemployment.
Answer: C
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Refer to Table 9-1. The unemployment rate for this simple economy equals
A) (100/1,100 ) × 100. B) (100/20,000 ) × 100. C) (100/15,000 ) × 100. D) (100/1,000 ) × 100.
Recent income distribution figures in the United States show
A) slightly more inequality. B) less inequality. C) greater equity. D) less equity.
One disadvantage of a sole proprietorship as a form of business organization is that
a. sole proprietorships cannot lower the transaction costs associated with contracting with resource owners b. sole proprietorships are less efficient than corporations, because they are less specialized in production c. owners of sole proprietorships can lose all their personal assets if the business is sued or fails d. owners of sole proprietorships generally find it difficult to negotiate separation agreements with the other partners in the firm e. owners of sole proprietorships generally have very little control over how they operate their businesses
How does the demand curve for a product in a pure monopoly compare to the demand curve for the industry?
a. They intersect in two places. b. They are parallel. c. They are the same. d. They are perpendicular.