Ms Krupsky Has Shorthand and Typing Skills and Still Finds

question 397

Multiple Choice

Ms. Krupsky has shorthand and typing skills and still finds herself unemployed. In today's economy, Ms. Krupsky is an example of what type of unemployment?

• A) cyclical unemployment
• B) frictional unemployment
• C) structural unemployment
• D) None of the above answers is correct.

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Definitions:

Marginal Revenue

The additional revenue generated from selling one more unit of a good or service.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be either positive or negative.

Externality

Actions of one party impose costs or benefits on a second party.

Economy of Scale

The cost advantages that enterprises obtain due to their scale of operation, typically resulting in decreased per-unit cost as production increases.