Frictional unemployment describes
A. recent entrants, re-entrants, and voluntary quits who require only a short time to find new employment.
B. the growing number of job seekers whose absence of skills makes them unemployable in any line of work except unskilled, dead-end jobs.
C. the loss of jobs resulting from periods of recession.
D. extended periods of unemployment during which retraining for new jobs occurs.
E. seasonal layoffs and periods without work, such as construction and public school teaching.
A. recent entrants, re-entrants, and voluntary quits who require only a short time to find new employment.
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When the price of corn increases, the quantity of corn demanded falls. Explain this change in terms of income and substitution effects
What will be an ideal response?
Network externalities
A) prevent the dominance of a market by one firm. B) are created when celebrity endorsements of products lead to a surge in the demand for those products. C) exist when the usefulness of a product increases with the number of consumers who use it. D) can only exist when there are economies of scale.