Answer:
2) comes from people entering the labor force and changing jobs.
Example of frictional unemployment maybe someone quitting their job and searching for a new one.
Explanation:
Answer:
Unlike perfectly competitive firms, in the long run monopolistically competitive firms face excess capacity or unused capacity. They produced at a higher cost which implies wastage of resources or under-utilization of resources.
During the twentieth century, the real income of blue-collar workers in western societies increased significantly overall, although it has dropped in the past 20 years.
White-collar workers went to work in factories instead of going to farming, and within a few years created the new industrial working class of America. Workingin factories was a difficult transition for rural people who were accustomed to living in communities where life was controlled by the hours of available daylight and the natural rhythm of the seasons.
Answer:
The symbol designed by Max is an example of trademark. The correct answer is a.
Explanation:
- Trademark is the symbol, sign, expression or design that signifes the products or services of particular company.
- Trademarks that signifies particular company or service mark if it signifies services, is an intellectual property which no other source can use without permission.
- Brand name is the name of the company that develops the product or service obtained which are also named with the same.
A favorable supply shock is a sudden increase in supply that makes the short-run aggregate supply curve (SRAS) shift to the right, average price levels go down and real GDP also shifts to the right. In this case, average price levels go down as shown in the figure below from p1 to p2 SRAS shifts right.
This may make create deflation in an economy and discourage new producers to enter the market, to bring back inflation, the central bank may reduce interest rates and decrease the money supply in the market, and in short, will follow expansionary monetary policy. This will make people demand more and hence as aggregate demand shifts to correct average price levels may again go up. This move will create new jobs in the market as aggregate demand will increase in the short term.
A supply shock is an event that causes unexpected cost increases or production disruptions. This shifts the short-run aggregate supply curve to the left, boosting inflation and lowering real domestic production.
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