Structural unemployment occurs when:
a. automation reduces the need for welders in Detroit
b. frictional unemployment exceeds 5 percent of the labor force.
c. steelworkers are laid off due to a downturn in the economy.
d. a person leaves a job to seek a better position and has not yet found the job he or she wants.
a
Economics
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Potential output in an economy decreases as the supply of labor decreases or the capital stock increases
Indicate whether the statement is true or false
Economics
Consider an economy that is producing inside its production possibilities curve. This economy could move closer towards its production possibilities curve by:
A. Distributing incomes more equally B. Employing more of its available resources C. Increasing the levels of wages and prices D. Acquiring additional resources
Economics