An example of cyclical unemployment is a(n):
a. textile worker permanently laid off due to job lost to imports.
b. autoworker who is temporarily laid off due to a decline in demand for cars.
c. engineer permanently laid off due to advances in technology.
d. computer programmer who leaves one job and accepts a new job.
b
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The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive, what government policy might move the market closer to efficiency?
A) The government could subsidize the production of steel. B) The government could tax the production of steel. C) The government could issue vouchers to steel consumers. D) None of the above answers is correct.
Growth in labor productivity in the economy as a whole has been ________ the growth in labor productivity in health care
A) approximately equal to B) slightly faster than C) almost twice as slow as D) more than twice as fast as