Jacqueline has a Ph.D. in economics. She has turned down many job offers because she eventually hopes to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is:
a. frictional unemployment.
b. structural unemployment.
c. seasonal unemployment.
d. cyclical unemployment

Which of the following is part of the economic way of thinking?

a. Opportunity costs will always be incurred when scarce resources are used to produce a good. b. When the cost of an option increases, individuals will be less likely to choose it. c. In addition to their immediate direct effects, economic actions often generate secondary effects that are observable only after the passage of time. d. All of the above are part of the economic way of thinking.

Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. Flow (1) might represent:

A.  corporate income tax payments.
B.  government provision of highways for truck transportation.
C.  business property tax payments.
D.  transfer payments to low-income families.