It Is Difficult for Cyclically Unemployed Persons to Find Jobs

question 25

Multiple Choice

It is difficult for cyclically unemployed persons to find jobs because

• A)they typically do not meet the qualifications required for the available jobs.
• B)the economy is in a recession.
• C)they voluntarily quit their last jobs and employers may view them as unreliable.
• D)they typically have not looked long enough to find a job.

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Definitions:

Total Expenditures

The sum of all spending or costs incurred by an individual, firm, or government.

Price Elasticity of Demand

An indicator of the responsiveness of the quantity demanded of a product to changes in its price.

Movie Tickets

A form of voucher or certificate that entitles the holder to admission to a film screening.

Elastic

Describes a situation where a change in one variable, such as price, leads to a significant change in another variable, such as demand.