The inability of employees to accept employment due to relocation expenses is designated as ?
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Answer: D. Geographical immobility
Explanation
The inability of workers to move to where jobs are located due to moving and relocation costs is termed geographical immobility.
Related questions
Q1. An expansion in market demand typically results in ?
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Answer: A. A higher equilibrium price and output
An expansion in market demand shifts the entire demand curve outward to the right on the standard economic graph. This rightward shift creates a temporary shortage at the original price level, forcing competitive market...
Q2. When demand is price inelastic ?
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Answer: C. An increase in price increase revenue
Inelastic demand features a percentage quantity drop smaller than the price increase percentage. Charging higher prices generates more revenue because lost sales volume is relatively small. Total revenue rises whenever p...
Q3. If aggregate desired expenditure outpaces national income, we anticipate ?
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Answer: C. firms to produce more
If aggregate desired expenditure exceeds national income, total spending in the economy outpaces current production levels. Firms experience this imbalance as unexpected inventory depletion because consumers and business...
Q4. When an economy achieves productive efficiency ?
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Answer: C. More of one product can only be produced if less of another product is produced
Productive efficiency requires producing maximum output from available resources without waste. Attaining this efficiency means all resources are fully employed across the economy. Producing more of one good necessitates...
Q5. If British residents demand more French francs to acquire French apparel, other factors constant, the equilibrium value of the pound against the franc will ?
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Answer: B. fall
When British residents demand more French francs to buy French goods, they must sell British pounds in the foreign exchange market. This increased supply of British pounds relative to the demand for pounds drives down th...
Q6. When corporations engage in satisficing behavior, it implies that ?
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Answer: B. objectives such as profit are not maximized
Satisficing behavior occurs when corporate managers settle for satisfactory target outcomes. Target objectives like profit are deliberately bounded rather than aggressively maximized. Managers prioritize security and sta...