What is the definition of a discouraged worker?
A) a member of the labor force who is working but is discouraged about his prospects for advancement within the company
B) a member of the labor force who is working but is discouraged about the performance of his company within the industry
C) a person who has dropped out of the labor force because he is discouraged about his prospects for employment
D) an employed member of the labor force who is discouraged about his pay
C
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Unregulated competitive markets for services with negative externalities, such as gambling, tend to
A. produce too little of the service to satisfy the confirmed addict. B. produce too much of the service to be efficient. C. produce the efficient quantity of the service. D. produce too little of the service to be efficient.
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