Category: Economics

How has globalization affected labor markets in developed countries?
Growth in domestic manufacturing
Job displacement and wage stagnation
Increased job security
Increase in high-paying factory jobs

➤ Why does cyclical unemployment rise during recessions?
Falling consumer and business spending reduces aggregate demand. Firms face lower sales and cut production. Employers lay off workers to lower costs, which raises the unemployment rate. The process can feed back into the economy, as job losses further reduce demand and deepen the recession unless countered by policy.

Previously, cholesterol was considered a potential threat to the heart. In 2018 theFDA announced that recent research had disproved that belief. How does that affect the demand curve for eggs?

If the government sets a minimum price at which a good or service can be sold, it thereby createsQuestion 39 options:
a price floor.
a price ceiling.
a black market price.
an illegal price control.

➤ How does the market clear when there is excess supply?
The market clears when price falls enough to eliminate the surplus. Lower prices raise quantity demanded and lower quantity supplied, moving along demand and supply curves. Sellers may also offer discounts or improve terms. Clearing occurs at the equilibrium price where planned purchases equal planned sales.

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