Which of the following correctly describes "frictional unemployment"?
A) Frictional unemployment falls in recessions and rises in expansions.
B) Frictional unemployment occurs mainly during recessions.
C) Frictional unemployment includes only people who are job losers.
D) Frictional unemployment is a normal occurrence in a growing economy.
E) Frictional unemployment includes only people who are job leavers.
D
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The reason economists assume that firms try to maximize economic profit is
a. over time, firms that don't earn profits will have difficulty securing financing to survive b. firms in the real world always maximize profit c. profit is easier to calculate than revenues d. if a firm fails to earn a profit in its first year, it will go out of business e. profit maximization is easier for firms than revenue maximization
A currency that is pegged to another currency is usually changed on a supply-and-demand basis.
a. true b. false