Suppose the country of Tiny Town decided to open its borders to free trade. As a result, a number of its workers lost their jobs to international competition and can't find new jobs because their skills don't match what is required for job openings
The workers who lost their jobs and searched for new ones are best be considered part of A) frictional unemployment.
B) structural unemployment
C) cyclical unemployment.
D) discouraged workers.
B
Economics
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Which of the following is the best example of a monopolistically competitive market?
A) The wheat market. B) The electricity market. C) The restaurant market. D) The market for automobiles.
Economics
If all the return to a resource is economic rent, we know that
A) the price of the resource is below its opportunity cost. B) the price of the resource equals its opportunity cost. C) the price of the resource is above its opportunity cost. D) the resource has no opportunity cost.
Economics