Explain how the following apparently contradictory statement can be true: Most spells of unemployment are short, and most unemployment observed at any given time is long-term
Most people who become unemployed will soon find jobs. Yet most of the economy's unemployment problem is attributable to the relatively few workers who are jobless for long periods of time.
Economics
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The average return for supplying entrepreneurial ability is the entrepreneur's
A) accounting profit. B) normal profit. C) explicit profit. D) economic profit.
Economics
The higher the cost of acquiring skills, the ________ are the high-skilled and low-skilled labor ________ curves
A) closer together; demand B) farther apart; demand C) closer together; supply D) farther apart; supply
Economics