If a person without a job is not actively looking for work, that person is classified as not being in the labor force.
Answer the following statement true (T) or false (F)
True
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Heterogeneity and the dynamic nature of labor markets are the principal causes of ________ unemployment.
A. chronic B. cyclical C. structural D. frictional
Using an example, explain the difference between a labor-intensive technology and a capital-intensive technology
What will be an ideal response?
Most economists would consider it sensible for the federal government to ________ its current operating and capital expenditure budgets and then ________
A) consolidate, never borrow to fund it B) consolidate, borrow what is necessary to fund it C) separate, borrow what is necessary to fund the current operating budget. D) separate, borrow what is necessary to fund the capital expenditure budget.
The short run for the industry is defined as a period
a. too brief for new firms to enter the industry. b. too brief for old firms to leave the industry. c. in which the number of firms in the industry is fixed. d. All of the above are correct.