Sectoral shifts in demand for output
a. create structural unemployment.
b. immediately reduce unemployment.
c. increase unemployment due to job search.
d. do not affect demand for labor.
c
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Other things being equal, appreciation of the dollar
A) increases aggregate demand in the United States, and may decrease aggregate supply by reducing the prices of imported resources. B) increases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources. C) decreases aggregate demand in the United States, and may decrease aggregate supply by increasing the prices of imported resources. D) decreases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources.
Which of the following arguments is not generally made to justify farm subsidies?
A. The "family farm" is an American institution that should be protected and nurtured. B. Agribusiness firms need subsidies to achieve economies of scale. C. Farmers sell their output in purely competitive markets but must buy inputs from imperfectly competitive firms. D. Farmers cannot fully insure themselves against the risks unusual to farming, such as floods, droughts, and pests.