The advice to "retrain" would be most appropriate for which of the following types of unemployment?
a) Cyclical unemployment
b) Structural unemployment
c) Frictional Unemployment
d) Core Unemployment
Ans: b) Structural unemployment
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A lake supports a delicious variety of fish. The land around the lake is owned by two fisherman, so by state law both are free to fish as much as they like. Let FA and FB be the number of fish each catches, respectively. Suppose the price of fish is 100 - FA - FB. Given this demand curve, it turns out that marginal revenue is 100 - 2FA - FB for fisherman A and 100 - FA - 2FB for fisherman B. What
is the total number of fish by both in the Nash equilibrium? a. 30 b. 45 c. 60 d. 90
Frictional unemployment occurs when: a. there is friction between an employer and employee
b. a worker decides to quit to seek a different job. c. a large corporation transfers a worker to another city. d. college students go back to school at the end of the summer.