Which of the following reflects an increase in unemployment?
A) an increase in the labour force participation rate
B) an increase in the involuntary part-time rate
C) a decrease in the unemployment rate
D) an increase in the employment-to-population ratio
E) none of the above
E) none of the above
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Joe likes to sleep late in the mornings and play tennis in the afternoons. The opportunity cost of Joe attending his morning class for one hour is
A) an hour of tennis given u
A rise in the multifactor productivity index means that at each (K/N) we have (Y/N) ________, which shifts the (S/N) curve ________, resulting in a movement of the steady-state intersection to the ________
A) rising, downward, left B) rising, upward, right C) rising, downward, right D) falling, upward, left E) falling, downward, left
One model in economics is the permanent income hypothesis, which basically states that a household's expenditures will not react to a change in income unless that change in income is viewed as being permanent
How would you use this model to predict the expenditure patterns over the course of a year of a real estate agent who only sells homes during the months of April through July?
In the backward-bending portion of a labor supply curve: a. a worker will increase the quantity of labor supplied in response to an increase in the wage. b. the substitution effect of a wage change outweighs the income effect
c. the income effect of a wage change outweighs the substitution effect. d. the substitution effect of a wage change equals the income effect.