24. Due to a recession, George has been laid off from his construction job. The

Question

24. Due to a recession, George has been laid off from his construction job. The unemployment George is experiencing is A) cyclical B) structural C) seasonal D) frictional 25. If the rate of exchange is 1 -USS2, then US$1- A) 0.50. B) 2 C) $0.50. D) $2.00. Use the following to answer question 26: Person Pat Lucy Year 1991 2000 2004 2009 CPI 84 93 100 120 Starting Salary S52,000 S 61,000 $ 66,000 $ 72,000 Kiana Alex 26. Pat, Lucy, Kiana, and Alex are comparing the starting salaries in their first jobs. The year each started his or her first job, the CPI in that year, and each person's nominal starting salary are given in Table 1. Who negotiated the highest real starting salary? A) Pat B) Lucy C) Kiana D) Alex 27. According to economists, money is NOT A) B) C) D) a medium of exchange a store of value a unit of account capital

Explanation / Answer

24. When the unemployment occurs due to change in business cycles, it is known as cyclical unemployment.

As the job has been laid off due to recession George is experiencing cyclical unemployment.

So option a)

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