Which of the Following Is an Example of a Worker

question 132

Multiple Choice

Which of the following is an example of a worker experiencing frictional unemployment?

• A)A worker quits his job at the Post Office to find more interesting work.
• B)A computer programmer loses her job because it is outsourced to India.
• C)An employee is laid off because the economy is suffering a recession.
• D)A United Airlines pilot loses her job because of lack of demand for air travel.

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Definitions:

Profit-Maximizing

The process or goal of a firm to adjust its production and sale strategies to achieve the highest possible profits.

Four-Firm Concentration Ratio

A metric that measures the total market share controlled by the four largest firms within an industry, used to assess the competitiveness of the market.

Herfindahl Index

A measure of market concentration, calculating the sum of the squares of market shares of each firm within an industry.

Short-Run Equilibrium

A state in which market supply equals demand, determining the price and quantity sold, specifically within a short timeframe.