Suppose That Because of the Popularity of the Low-Carb Diet,bakeries

question 36

Multiple Choice

Suppose that because of the popularity of the low-carb diet,bakeries need fewer workers and steak houses need more workers.The unemployment created by this change is

• A)frictional unemployment created by efficiency wages.
• B)frictional unemployment created by sectoral shifts.
• C)structural unemployment created by efficiency wages.
• D)structural unemployment created by sectoral shifts.

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Definitions:

Social Security

A government program designed to provide financial assistance and support to people with inadequate or no income, primarily the elderly, disabled, and families with dependent children.

Inflation

The quickening in the standard cost evaluation for goods and services, wearing down the strength to purchase.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate inflation.

Market Basket

A selection of goods and services used to track changes in prices and inflation over time.