Suppose That Consumers Decide to Walk to Work More Frequently

question 16

Multiple Choice

Suppose that consumers decide to walk to work more frequently and drive cars less.Companies that make walking shoes hire workers,while automobile companies lay off workers.This is an example of

• A)frictional unemployment created by sectoral shifts.
• B)frictional unemployment created by efficiency wages.
• C)structural unemployment created by efficiency wages.
• D)structural unemployment created by sectoral shifts.

Identify countries with significant population sizes and their implications for global trade.

Recognize the major players in the international trade of goods and services.

Understand the balance of payments and its components.

Grasp the impact of tariffs, quotas, and other trade restrictions on international trade.

---

Definitions:

Partnership Act

Legislation that sets out the rights and obligations of partners in a partnership business structure.

Rights

Entitlements or permissions, either legal, social, or moral, that individuals have in a society.

Obligations

Duties or commitments that an individual or entity is legally or morally bound to perform.

Unanimously Vote

When all members of a decision-making body agree and vote in the same way on a particular issue.