Question :
81.Cyclical unemployment:
A. is unemployment caused by short-term economic fluctuations reflected in : 1379098
81.Cyclical unemployment:
A. is unemployment caused by short-term economic fluctuations reflected in GDP growth.
B. is unemployment that results from a mismatch between the skills workers can offer and the skills that are in demand.
C. is unemployment caused by workers who are changing their location, job, or career.
D. is the effect of wages remaining persistently above the market-clearing level.
82.An economic slow-down would cause the:
A. labor demand curve to shift left.
B. labor demand curve to shift right.
C. labor supply curve to shift left.
D. labor supply curve to shift right.
83.If GDP growth were to increase, it would cause the:
A. labor demand curve to shift left.
B. labor demand curve to shift right.
C. labor supply curve to shift left.
D. labor supply curve to shift right.
84.An economic slow-down predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left.
B. higher because the labor demand curve shifts left.
C. lower because the labor demand curve shifts right.
D. higher because the labor demand curve shifts right.
85.An economic boom predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left.
B. higher because the labor demand curve shifts left.
C. lower because the labor demand curve shifts right.
D. higher because the labor demand curve shifts right.
86.We don’t typically see wages __________ in response to an economic downturn because ____________.
A. rise; they are “sticky,” and are slow to respond to shifts in the economy
B. rise; they cannot rise above the equilibrium in any circumstance
C. fall; they are “sticky” and are slow to respond to shifts in the economy
D. fall; they cannot fall below where they were previously set due to inflation
87.We don’t typically see wages __________ in response to an economic upswing because ____________.
A. rise; they are “sticky,” and are slow to respond to shifts in the economy
B. rise; they cannot rise above the equilibrium in any circumstance
C. fall; they are “sticky,” and are slow to respond to shifts in the economy
D. fall; they cannot fall below where they were previously set due to inflation
88.The degree of wage stickiness in the real world:
A. has been measured by economists.
B. is widely agreed upon by economists.
C. has been addressed by policymakers.
D. None of these is true.
89.The degree of wage stickiness in the real world:
A. is controversial, even among economists.
B. is agreed upon by economists, but not accepted by others, like policymakers.
C. is agreed upon by economists as a concept, but controversial in how it’s measured.
D. has been estimated by economists.
90.When economists say wages are “sticky,” they mean that they:
A. are slow to adjust to changes in the economy, and can cause unemployment.
B. stick to current market trends, and adjust to equilibrium when changes in the economy occur.
C. get stuck behind current market trends, and follow a typical two-week lag with changes in the economy.
D. lead market trends, and other variables will stick to the wage rate and follow it closely.
