Answer:
Consider the following explanation
Explanation:
1. Option C.
Structural unemployment is a type of unemployment which occurs naturally when the economy shifts in time.
This forces certain job skills to become obsolete, due to which mismatch of skills and the jobs available in the economy.
Many workers are also laid off as their jobs no longer match their current skills.
2. Option D.
A laffer curve is a curve which shows a relationship between the taxes imposed within an economy and the tax revenues collected from the imposed taxes.
Above the optimal tax rate, a reduction in tax rates along the downward sloping portion of the laffer curve would increase the tax revenue's.
Answer:
The correct answer is option A.
Explanation:
In the study of economics, all the available resources are considered to be scarce. But the shortage is referred to the situation in the market where the quantity demanded is more than the quantity supplied at the current market price.
If the quantity supplied is more then the situation is referred to as surplus. Equilibrium is achieved when both quantity demanded and supplied are equal.
Description
Market power refers to the ability of a firm (or group of firms) to raise and maintain price above the level that would prevail under competition is referred to as market or monopoly power. The exercise of market power leads to reduced output and loss of economic welfare.
Real flow is exchange of goods & services between firms & households. & Money flow is exchange between 2 sectors
