Jack graduated from college last month, but he has not yet started looking for a job. Jack is
A. Structurally unemployed.
B. Not part of the labor force and is not counted in the unemployment rate.
C. A discouraged worker and is part of the unemployment statistic.
D. Frictionally unemployed.
Answer: B
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Which one of the following could not have helped contribute to the recession of 1990– 1991?
a. less spending by state and local governments b. lower military spending by the federal government c. high levels of consumer debt d. lower tax rates e. expectations by consumers that the economy was in a downturn
A positive-sum game occurs:
A. when the sum of the two firms' outcomes is positive. B. whenever any of the values in the payoff matrix are positive. C. when the gains received by one player are exactly offset by the losses to the other. D. whenever the payoffs to the two players are equal.