Laid-off auto workers in Detroit need to be trained for jobs in other industries where there is more labor demand. In the meantime, they are out of work. This is an example of:

a) Structural unemployment
b) Frictional unemployment
c) Cyclical unemployment
d) Natural unemployment

Answer: a) Structural unemployment

Economics

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Movements away from equilibrium in the Solow model:

A) persist and cannot be corrected. B) are corrected only through government intervention. C) are automatically corrected. D) are corrected only when the country opens up to international trade.

Economics

When making a choice to do more of one activity, the highest-valued other choice society does not make is called _______ , and it is measured _______ .

A) opportunity cost; in terms of the money it costs B) increasing cost; in terms of the amount of money spent doing so C) constant cost; by the slope of the production possibilities curve at that level D) opportunity cost; by the slope of the production possibilities curve at that level

Economics