The Internet Has Enabled Workers and Companies to Find Each

question 162

Multiple Choice

The Internet has enabled workers and companies to find each other more quickly and to make better matches with substantially lower costs.The result is

• A) lower frictional unemployment.
• B) lower structural unemployment.
• C) higher frictional unemployment.
• D) lower cyclical unemployment.
• E) higher structural unemployment.

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Definitions:

Productive Efficiency

Achieved when goods or services are produced at the lowest possible cost and utilizing resources in the best way possible.

Average Total Cost

The total cost of production divided by the quantity of output produced, showing the average cost per unit.

Technological Advance

Progress in technology that often leads to improvements in efficiency, productivity, and the development of new products.

Venture Capital

Financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.