Assumptions in models tend to make
A) the model predict what the scientist wants the results to be.
B) the model more realistic.
C) the model more applicable to specific circumstances.
D) the model always predict the future accurately.
Answer: C
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A forestry worker who is out of work because of the temporarily low demand for wood products associated with a recession is defined as: a. frictionally unemployed. b. underemployed
c. cyclically unemployed. d. structurally unemployed.
When economists say wages are "sticky," they mean that they:
A. are slow to adjust to changes in the economy, and can cause unemployment. B. stick to current market trends, and adjust to equilibrium when changes in the economy occur. C. get stuck behind current market trends, and follow a typical two-week lag with changes in the economy. D. lead market trends, and other variables will stick to the wage rate and follow it closely.