Needed Review:

Question 1

Frictional:

Answer 1

Normal people changing jobs, leaving the market, people getting fired

Question 2

Structural:

Answer 2

Situation when workers lose jobs to automation, or when the company moves out of town.

Question 3

Cyclical:

Answer 3

Seasonal labor (like holiday workers/farm labor

Question 4

Perfect Competition:

Answer 4

No barriers
Homogenous firms
-Common

Question 5

Monopolistic Competition:

Answer 5

Most popular
People have some control
advertising, branding

Question 6

Federal Reserve:

Answer 6

Nations Bank

Question 6

Oligopoly:

Answer 6

Bully out other companies
-High barriers to entry
Few sellers

Question 6

Monetary Policy

Answer 6

Actions by the FEd to achieve economic growth, stabilize prices, and provide full employment

Question 6

Monopoly

Answer 6

-One firm
-Barriers to entry
Public utilities

Question 7

EAsy money:

Answer 7

encourages

Question 8

Tight money

Answer 8

discourages

Question 9

Reserve Requirement

Answer 9

The RR can be raised and lowered

Question 10

Discount rate

Answer 10

The interest rate the FEd charges the banks to borrow money