Author Question: Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes ... (Read 37 times)

imowrer · **on:** Jun 30, 2018

Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top 10 universities in her field. The type of unemployment she is experiencing is:
a. frictional.
b. structural.
c. seasonal.
d. cyclical.
e. underemployment.

Question 2

If M stands for the money supply, V for the velocity of money, P for the average selling price, and Q for the output of goods and services, the equation of exchange is:
a. MP = VQ.
b. MV = PQ.
c. MQ = VP.
d. MP = PQ.