Cyclical unemployment happens because
A. businesses make strategic errors.
B. of the ups and downs of the business cycle.
C. of government intervention.
D. inflation rates vary.
Answer: B
Economics
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Refer to the above figure. A minimum wage has been set at WM. The amount of unemployment is
A) zero. B) at Qe. C) QS minus QD. D) not computable from the information given.
Economics
As the number of substitutes for a good increases, its own-price elasticity becomes more
a. Unitary b. Relatively elastic c. relatively inelastic. d. perfectly inelastic.
Economics