Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of
structural unemployment
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An unexpected increase in aggregate demand
A) causes the price level to fall and the unemployment rate to rise. B) causes the price level to fall and the unemployment rate to fall. C) causes the price level to rise and the unemployment rate to rise. D) causes the price level to rise and the unemployment rate to fall.
A market transaction causes an externality if someone
a. directly involved in the transaction receives uncompensated benefits or costs from it. b. not directly involved in the transaction receives uncompensated benefits or costs from it. c. directly involved in the transaction seeks legal assistance to ensure that the transaction is carried out. d. not directly involved in the transaction interferes in it by imposing regulations or product standards.