Structural unemployment Cyclical unemployment O Seasonal unemployment O Frictional unemployment QUESTION 2 If the government of a country takes in more money than it spends, it is said to have a trade deficit budget surplus O balanced budget O negative balance of payment QUESTION 3 Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 1 is experienced by members of the workforce who are temporarily not working but are looking for jobs. Structural unemployment Cyclical unemployment O Seasonal unemployment O Frictional unemployment QUESTION 2 If the government of a country takes in more money than it spends, it is said to have a trade deficit budget surplus balanced budget O negative balance of payment QUESTION 3 The three major types of economic systems are O collectivism, developed economies, and oligopoly O individualism, developing economies, and duopoly O ethnocentrism, cultural relativism, and polycentrism O capitalism, planned economies, and mixed economies QUESTION 4 A particular industry has many competitors, each of whom has no significant control over price. In addition, it is fairly easy to enter the industry. This industry is an example of pure competition O monopolistic competition an oligopoly O a pure monopoly Click Save and Submit to save and submit Chick Save All A r o llare A demand curve is the schedule that shows the relationship between the price of a product and the O overhead costs social costs O quantity of that product buyers will purchase O quantity of that product manufacturers will supply QUESTION 6 In general, as price of a good or service increases, the quantity demanded: O declines. O remains the same irrespective of the product type increases O first increases and then decreases irrespective of the product type