The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment?
A) structural unemployment B) cyclical unemployment
C) seasonal unemployment D) frictional unemployment
D
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In the long run, the Phillips curve is a ________ at ________.
Fill in the blank(s) with correct word
Empirical evidence suggests that economies of scale, advertising and image differentiation, and risk spreading all help account for the large-scale production that exists in many sectors of the economy
Indicate whether the statement is true or false
Which of the following best illustrates the concept of "derived demand?"
a. An increase in the wages of auto workers will lead to an increase in the demand for robots in automobile factories. b. An automobile producer's decision to supply more cars will lead to an increase in the demand for automobile production workers. c. An automobile producer's decision to supply more minivans results from a decrease in the demand for station wagons. d. An increase in the price of gasoline will lead to an increase in the demand for small cars.
The point where diminishing marginal returns has begun to affect production is best characterized by the point where the:
A. marginal product curve begins to be negatively sloped. B. total product curve flattens out. C. average product curve begins to be negatively sloped. D. marginal product curve equals the average product curve.