Which of the Following Is Likely to Reduce the Level

question 68

Multiple Choice

Which of the following is likely to reduce the level of structural unemployment?

• A) A lower GDP level for the economy
• B) Longer periods of unemployment between jobs
• C) Federally funded job-training programs
• D) An increase in the number of youth and women in the labor force

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Definitions:

Average Variable Costs

The total variable costs of production divided by the quantity of output produced, representing the variable cost per unit of output.

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.

Average Variable Cost

is the cost that varies with the level of output, calculated by dividing the total variable costs by the quantity of output produced.

Diminishing Returns

A rule that asserts when one input in the production process is augmented without changes to the others, there will ultimately be a decline in output after reaching a specific level.