D089 module 7 - Study guides, Class notes & Summaries

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D089- Module 7 questions and answers
  • D089- Module 7 questions and answers

  • Exam (elaborations) • 2 pages • 2024
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  • D089- Module 7 Exam
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WGU D089: Module 1 Questions and Answers Graded A
  • WGU D089: Module 1 Questions and Answers Graded A

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  • WGU D089: Module 1 Questions and Answers Graded A What are the three fundamental questions every economy must answer? Give an example of a "What" question. What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? Thinking about the next step or an additional action means for a person. Accordin...
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WGU D089 - Module 7 Exam Questions With Complete Answers 2024.
  • WGU D089 - Module 7 Exam Questions With Complete Answers 2024.

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  • What is frictional unemployment? - Answer Between jobs, moving towards a better job. (Module 7) What is structural unempoyment? - Answer Job eliminated, accumulated experience is no longer valued in the labor market. What is cyclical unemployment? - Answer Laid off due to a recession How do you calculate the unemployment rate? - Answer (# of unemployed/labor force) x 100 How do you calculate the labor force participation rate? - Answer (labor force / population) x 100 Wh...
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WGU D089 -Principles of Economics - Module 7- Solved
  • WGU D089 -Principles of Economics - Module 7- Solved

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  • What is frictional unemployment? - ANSWER-Between jobs, moving towards a better job. (Module 7) What is structural unempoyment? - ANSWER-Job eliminated, accumulated experience is no longer valued in the labor market. What is cyclical unemployment? - ANSWER-Laid off due to a recession How do you calculate the unemployment rate? - ANSWER-(# of unemployed/labor force) x 100 How do you calculate the labor force participation rate? - ANSWER-(labor force / population) x 100 Who is in th...
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