The layoff of workers in virtually all industries during the 1982 recession is an example of the classification of workers as
A) voluntarily unemployed.
B) structurally unemployed.
C) cyclically unemployed.
D) frictionally unemployed.
C
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How can a buyer of car insurance help in reducing the effects of adverse selection?
What will be an ideal response?
Economic regulation occurs when:
a. monopoly is the optimal market structure b. the industry is highly competitive c. the product is important to economic welfare d. the government owns the assets of the industry e. the product price, if left unregulated, would be too low
The price of sandwiches decreased from €3.50 to €2.10 in the Canteen. Which of the following effects would you expect?
(a) A movement along the demand curve for sandwiches resulting in a higher price and a lower quantity demanded. (b) A movement along the demand curve for sandwiches resulting in a lower price and a higher quantity demanded. (c) A shift in the demand curve for sandwiches to the left. (d) A shift in the demand curve for sandwiches to the right.
Which of the following is vertical?
a. both the long-run Phillips curve and the long-run aggregate supply curve b. neither the long-run Phillips curve nor the long-run aggregate supply curve c. the long-run Phillips curve, but not the long-run aggregate supply curve d. the long-run Phillips curve, but not the long-run aggregate supply curve