Select the response that is correct regarding types

This preview shows page 4 - 7 out of 11 pages.

8 Select the response that is correct regarding types of unemployment. Frictional unemployment can be prevented with better training and education.
Cyclical unemployment increases when the economy is expanding. Natural unemployment happens when the economy is in recession. Structural unemployment occurs when people's skills do not match the available jobs. CONCEPT Assessing Costs of Unemployment--Labor Economics 9 Match each type of economy below to its corresponding characteristic that you could find in that economy. C A Pure market economy A B Pure command economy • A. All goods are produced by the government. • B. The United States economy today is an example of this type of economy. • C. Goods that the private sector provides are produced efficiently. CONCEPT Comparative Economic Systems 10 One argument against the bailout of companies deemed “too big to fail” is that they will continue their inefficient business practices and prevent more efficient producers from entering the market. This phenomenon is known as ______________.
principal-agent problem externality information asymmetry CONCEPT Details on Regulatory Intervention and Market Failure 11
CONCEPT Taxation and Subsidy 12 Determine what type of economic indicator each example below represents.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture