When there is a mismatch between the skills required for a job and the skills of job seekers, the unemployment that results is an example of
A. Frictional unemployment.
B. Seasonal unemployment.
C. Structural unemployment.
D. Cyclical unemployment.
Answer: C
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How would economists interpret the following facts? Fact: Over the past two decades the relative price of new textbooks has risen dramatically. Another fact: Record numbers of new textbooks have been purchased by students over the past two decades
A) The law of demand has been violated. B) The law of supply has been violated. C) The supply and demand process in new textbooks hasn't worked correctly. D) The demand for textbooks has increased. E) The facts aren't true.
The "cost of rainforest preservation" can be lowered for developing countries by
(a) the development of alternative rainforest products. (b) research on agriculture in rainforest soils. (c) encouraging rainforest settlement of the poor. (d) subsidies for activities like cattle raising.
Which of the following is likely to result from the regulation of taxicabs in Mexico City?
a. The price of taxi rides will decrease. b. The price of taxi rides will increase. c. The income of taxi owners will increase. d. Taxi owners will have greater monopoly power. e. The supply of taxis will decrease.
If Britain had not joined the ERM, the policy options it would have had available to avoid recession would have been:
A) severely limited. B) more numerous and varied. C) subject to veto by the European Parliament. D) a conflict with its desire to maintain a stable economy