Which of the following is an example of structural unemployment?
A. Alan, a software engineer, lost his job when the internet startup he worked for went bankrupt. He interviewed with five companies in the area before taking a job with another firm in the industry.
B. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year.
C. Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up.
D. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked.
Answer: B
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In the Keynesian model a recessionary gap will develop if there is:
A. stabilization policy. B. an increase in average labor productivity. C. too little spending. D. too much spending.
All along the beach in San Diego, California are shops which rent boogie boards for $3 per hour. Tourists perceive that all rental boogie boards are identical and there are no restrictions on entry and exit in the boogie board market
Suppose Surf's Up is a boogie board rental shop. To maximize profits, Surf's Up would produce a quantity where A) Marginal revenue is greater than marginal cost. B) Marginal revenue is equal to marginal cost. C) Marginal revenue is less than marginal cost. D) Price is maximized.
The price elasticity of demand for kale in Texas is -2, and the price elasticity of demand for kale in California is -0.5. In other words, demand in Texas is ________, and demand in California is ________.
A. inelastic; unit inelastic B. inelastic; elastic C. elastic; unit elastic D. elastic; inelastic
In his famous Fortune magazine article, Wheat listed "what it takes" to become a great leader. Which of the following is not on his list?
A. Don't let the facts get in your way. B. Stand up and be seen. C. Make team members feel important. D. Be brutally optimistic.