Unemployment caused by the fluctuation of the business cycle is called ________ unemployment.
A) structural
B) recession-related
C) frictional
D) cyclical
Question 2
Suppose a rise in the price of peaches from 5.50 to 6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand is
A) 0.5.
B) 1.0.
C) 2.0.
D) 1000.0.
