If Professors Lose Their Positions at Universities Because of the Widespread

question 166

Multiple Choice

If professors lose their positions at universities because of the widespread introduction of courses over the Internet,what would faculty members that remained unemployed be considered?

• A)frictionally unemployed
• B)structurally unemployed
• C)cyclically unemployed
• D)underemployed

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Definitions:

Quantity Demanded

The total amount of a good that buyers are willing and able to purchase at a given price within a specific time period.

Excess Demand

A situation where the demand for a product exceeds its supply at the current price, often leading to price increases.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.

Demand Increases

A situation where the quantity of a product or service desired by buyers exceeds the quantity supplied at a particular price.