Which of the following is true about workers who experience structural unemployment?
a. They quickly accept a much lower salary in a different industry.
b. They become unemployed due to the business cycle fluctuations.
c. They sometimes enter the pool of discouraged workers.
d. They tend to quit their job search very easily.
e. They usually have the necessary skills to maintain their level of income in another industry.
c
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Acquiring knowledge and skills by participating in the production process is called "learning by doing."
Indicate whether the statement is true or false
Terms of trade refers to
A) the relative price at which trade occurs. B) what goods are imported. C) what goods are exported. D) the volume of trade. E) the tariffs applied to trade.
It is true of externalities that they
a. arise when all costs, social and private, are included in production cost. b. are always beneficial. c. are always detrimental. d. None of the above are correct.
Which of the following occurs simultaneously with an income effect?
A. substitution effect B. preferences effect C. backward-bending supply curve D. Giffen good effect