If All Workers and All Jobs Were the Same Such

question 262

True/False

If all workers and all jobs were the same such that all workers were equally well suited for all jobs, then there would be no frictional unemployment.

---

Definitions:

AVC Curve

The Average Variable Cost curve, showing the per-unit variable cost of production at different levels of output.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Fizzle & Sizzle

An informal term indicating the contrasting outcomes of events or products; "fizzle" for failing and "sizzle" for succeeding amazingly.

Implicit Cost

The opportunity cost associated with a firm's use of resources that it already owns, representing the income the firm foregoes by using these resources in its current capacity.