A headline reads: "Steel industry suffers slump as import competition increases; unemployment rises." This type of unemployment can best be characterized in economic terms as:
a. Natural
b. Cyclical
c. Structural
d. Frictional
c. Structural
Economics
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Which of the following is the least likely to be a competitive market?
a. ice cream b. soybeans c. cable television d. new houses
Economics
If economic profits are earned in a monopolistically competitive market,
A. The market demand curve will shift to the right. B. Price will rise. C. More firms will enter the market. D. The market supply curve will shift to the left.
Economics