An example of an intermediate good would be ________.
A. paper and ink bought by a publishing company
B. groceries bought by a dentist for his family
C. bricks bought by a homeowner who plans to build a patio in his backyard
D. cars bought by a car-rental company
Answer: A
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Consider an apple orchard owner deciding how to incentivize his fruit pickers. He pays per pound harvested but adjusts the compensation rate higher during poor harvest seasons. As a consequence
a. The picker's effort would not depend on the compensation rate b. The pickers would claim poor harvests in order to be paid higher piece rates even during bountiful harvest seasons c. The pickers would claim good harvests in order to be paid higher piece rates even during poor harvest seasons d. None of the above
Structural unemployment is unemployment caused by:
a. temporary changes in jobs. b. discrimination. c. the time required to match employers and workers. d. a mismatch between worker skills and employer requirements.