It is difficult for cyclically unemployed persons to find jobs because
a. they typically do not meet the qualifications required for the available jobs
b. the economy is in a recession
c. they voluntarily quit their last jobs and employers may view them as unreliable
d. they typically have not looked long enough to find a job
e. they voluntarily have left the labor force
B
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If the dollar/pound exchange rate is $2/£, a Big Mac costs $5 in New York City and costs £2 in London, the pound is ________, and U.S. tourists will be ________
A) overvalued; better off in London B) overvalued; better off in New York C) undervalued; better off in London D) undervalued; better off in New York
Intellectual property is
a. a special form of capital b. a type of labor c. a special type of service d. cheap to produce, but expensive to transmit e. a kind of entrepreneurial ability