The layoff of workers in virtually all industries during the 1982 recession is an example of the classification of workers as
A) voluntarily unemployed.
B) structurally unemployed.
C) cyclically unemployed.
D) frictionally unemployed.
C
Economics
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The two sectors of the economy in the simple circular flow model are
A) the employed and the unemployed. B) households and businesses. C) foreign markets and domestic markets. D) the private sector and the public sector.
Economics
Describe the empirical research on the stickiness of prices. Given some doubt on how sticky prices are, why is it nevertheless useful for the Keynesian model to assume that prices are sticky, especially when analyzing monetary policy?
What will be an ideal response?
Economics