Which of the following is a factor of production?
A) an acre of forested land B) $25,000 in cash
C) a U.S. Treasury bond D) 20 shares of Ford stock
A
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Sandy has graduated from college and is devoting her time to searching for a job. She has seen plenty of openings but has not yet been offered one that best suits her tastes and skills. Sandy is
a. structurally unemployed. Structural unemployment exists even in the long run. b. structurally unemployed. There is no structural unemployment in the long run. c. frictionally unemployed. Frictional unemployment exists even in the long run. d. frictionally unemployed. There is no frictional unemployment in the long run.
Shoeleather costs arise when higher inflation rates induce people to
a. spend more time looking for bargains. b. spend less time looking for bargains. c. hold more money. d. hold less money.