in the 1990s Ireland made unemployment benefits less generous. This change would likely have
a. reduced structural unemployment and the natural rate of unemployment
b. reduced structural unemployment but not the natural rate of unemployment
c. reduced frictional unemployment and the natural rate of unemployment
d. reduced frictional unemployment but not the natural rate of unemployment
Ans: c. reduced frictional unemployment and the natural rate of unemployment
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An economy that trades with the rest of the world is a(n) ________.
A. command economy B. closed economy C. open economy D. trade economy
For firms, dividends are not deductible. They are, however, taxed preferentially at the individual level.
A. True B. False C. Uncertain
In evaluating policy effectiveness, economists rely on:
A. positive analysis. B. normative analysis. C. both normative and positive analysis. D. Economists can never fully analyze any real-world policy effectiveness.
The law of increasing relative costs, depicted by the concavity of the production opportunities frontier, is most closely related to the
a. downward slope of the demand curve. b. upward slope of the demand curve. c. downward slope of the supply curve. d. upward slope of the supply curve.