Which of the following is NOT used in the video as an example of the kind of shock that causes structural unemployment?
A. The rapid rise of the Internet
B. The Financial Crisis of 2008
C. The opening of trade with China in the 1990s
D. The 1970s oil price shock
Ans: B. The Financial Crisis of 2008
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Refer to Figure 19-8. The equilibrium exchange rate is at A, $1.25/euro. Suppose the European Central Bank pegs its currency at $1.00/euro. At the pegged exchange rate,
A) there is a surplus of euros equal to 700 million. B) there is a shortage of euros equal to 500 million. C) there is a shortage of euros equal to 200 million. D) there is a surplus of euros equal to 300 million.
With two-part pricing
A) the consumer puts down a deposit and then pays the rest when she picks up the goods purchased. B) the average price paid varies with the number of units purchased. C) the consumer is limited in the number of units that can be purchased. D) consumers are required to buy two units of a good.