A long-term mismatch between the skills of some workers and the jobs available is a principal cause of ________ unemployment.
A. structural
B. cyclical
C. frictional
D. global
Answer: A
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The logic of why international trade increases well-being is
a. a major revision of the logic of why trade within a country increases well-being. b. completely different from the logic of why trade within a country increases well-being. c. a narrow, special case of the logic of why trade within a country increases well-being. d. no different from the logic of why trade within a country increases well-being.
The equilibrium price in a market characterized by oligopoly is
a. higher than in monopoly markets and higher than in perfectly competitive markets. b. higher than in monopoly markets and lower than in perfectly competitive markets. c. lower than in monopoly markets and higher than in perfectly competitive markets. d. lower than in monopoly markets and lower than in perfectly competitive markets.
GDP is used as the basic measure of a society's economic well-being. A better measure of the economic well-being of individuals in society is
a. saving per person. b. GDP per person. c. government expenditures per person. d. investment per business firm.
If investment spending depends on GDP, this is called induced investment.
Answer the following statement true (T) or false (F)