An Unemployed Worker Can Be Identified as Being "Structurally" Unemployed

question 19

Multiple Choice

An unemployed worker can be identified as being "structurally" unemployed if

• A)minimum wage laws prevent the worker from finding a job.
• B)the worker has a different set of skills than what is desired by firms.
• C)the worker quits a job in order to search for a better one.
• D)the worker wants to work only during certain months of the year.
• E)there is a recession and the worker is laid off.

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Definitions:

Coke and Pepsi

Refers to a classic example of duopoly in economics, representing competition between two dominant firms in a market.

Perfect Complementarity

Refers to a situation in consumer choice theory where two goods are always consumed together in fixed proportions because one is perfectly complementary to the other.

Engel Curve

A graph showing the relationship between the income of a consumer and the amount of a good that the consumer buys, illustrating how spending on a good varies with income.

Left and Right Shoes

Items that are perfect complements in consumption, where the use of one without the other is generally considered incomplete or unsatisfactory.