Bernice Has Recently Experienced the Sudden and Unexpected Death of Her

question 127

Multiple Choice

Bernice has recently experienced the sudden and unexpected death of her husband and has lost her job after working at the company for 10 years. Since both of these events were unanticipated, they would best be considered to be:

• A) cohort events
• B) normative events
• C) idiosyncratic events
• D) counter-cultural events

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Definitions:

Shift Inward

A situation in economics where the supply curve moves towards the origin, indicating a decrease in supply at every price level.

Unemployment Rate

The number unemployed as a percentage of the labor force.

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, techniques, and processes.

Production Possibilities Frontier

The Production Possibilities Frontier is a curve depicting all maximum output possibilities for two goods, given a set of inputs.