Structural unemployment refers to unemployment resulting from:
a. technological change.
b. being in the wrong geographical location
c. taking the time to find the best job.
d. seasonal decreases in demand for labor.
e. a recession in the economy.
a
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Assuming capital and labor are substitutes, an improvement in technology that affects only the productivity of capital would cause a firm to employ more capital but leave the amount of labor employed unchanged
Indicate whether the statement is true or false
Your company makes copper pipes. Over the years, you have collected a large inventory of raw copper. The production process involves melting the copper and shaping it into pipes. You also have a large stockpile of pennies
Suppose the price of copper rises so much that the copper in the penny becomes worth more than one cent. Should you melt down your pennies?