When an individual is frictionally unemployed, the unemployment arises in part from
A) a short-term elimination of jobs because of a slowdown in business activity.
B) individuals searching for appropriate employment.
C) the permanent elimination of jobs because of a change in the structure of the economy.
D) a reduction in the overall demand for workers' skills.
B
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The marginal social cost is
A) equal to the marginal private cost plus the marginal external cost. B) equal to the marginal private cost minus the marginal external cost. C) the same as the marginal private cost. D) the same as the marginal external cost.
Gross domestic product is the sum of the purchase price multiplied by the quantity of:
a. goods and services exchanged during the period. b. final goods and services produced domestically during the period. c. goods and services produced domestically during the period minus the depreciation of productive assets. d. final goods and services plus intermediate goods produced domestically during the period.