Refer to the graph shown. A complete business cycle is represented by:
a. A to G.
b. O to C.
c. A to F.
d. C to F.
Answer: a. A to G.
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Gary, Kevin, and Joshua are three individuals who were previously employed but do not have jobs now. Gary lost his job a year ago
Although he would like to have a job, he has given up looking for one as he thinks there are no suitable jobs available for him. Kevin was working as a finance teacher, but quit his job a few months back to become a stock broker. Ever since he quit his job, he is unable to get a new one, although he is actively seeking. Joshua was employed in a steel mill. He lost his job when the labor union in his mill demanded a hike in wages. Classify the three individuals according to their type of unemployment.
If England buys hockey sticks from Canada, then:
A. England has an absolute advantage over Canada in making hockey sticks. B. Canada has an absolute advantage over England in making hockey sticks. C. England has the comparative advantage over Canada in making hockey sticks. D. Canada has the comparative advantage over England in making hockey sticks.