Answer:
An increase in the price of one substitute good causes a decrease in supply for the other.
Explanation:
I just took a test on this subject last week :)
Answer:
Agree with the statement.
Explanation:
Structural unemployment refers to the mismatch of the abilities of the workforce of the economy with the changing ability requirements demanded by the industries in the economy.
This mainly happens because of the new technological innovations and the obsolete education system in a country. One a new technology or a new innovation comes in, the knowledge and the experience possessed by the workers become obsolete.
To eliminate the structural unemployment, the education system, higher education system, professional education system and national employee training and development policies has to be changed and updated accordingly with the changing global market skills demand.
<span>If an economy has just suffered a serious recession, we can conclude that the unemployment rate is high. After the recession when the real gdp is expanding, we can safely assume that more workers are needed to produce the gdp, which means that the unemployment rate will drop.</span>
Answer:
a. x3+x4<=1
Explanation:
We need a multiple choice constraint. Constraint x3+x4 <= 1 states that only one of the 2 options of landlord or contractor working on kitchen tiles can be used. (Assuming x3, x4 are binary variables)
Hence if x3 = 1, x4 is 0, and if x4=1, x3 becomes 0. Please note, there is no constraint in question specifying that kitchen tile has to be done. Hence, both x3 and x4 can be 0 depending on cost optimization, and x3+x4<=1 will still hold correct.
