In the early stages of a recession, what type of unemployment gets larger?

A. Seasonal.
B. Frictional.
C. Structural.
D. Cyclical.

Answer: D

Economics

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In his book, An Inquiry into the Nature and Causes of the Wealth of Nations, economist Adam Smith argued that individuals

A) always tend to act in an altruistic manner. B) always consider the impact of their actions on the welfare of others. C) are motivated by self-interest. D) are generally not concerned with economic questions.

Economics

Which of the following is included as government purchases in gross domestic product (GDP)?

a. Social Security payments to elderly citizens b. Welfare benefits distributed to the poor c. Outright grants from government to recipients d. Payments to clerical workers hired by government e. Unemployment compensation benefits

Economics