Unemployment insurance is:
A. money that is paid by the government to people who are unemployed.
B. money that is paid to the government by employers who lay off employees.
C. offered by the government as a way to affect the level of cyclical unemployment.
D. offered by the government as a way to affect the level of seasonal unemployment.
A. money that is paid by the government to people who are unemployed.
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
If income increases, the budget line:
A. rotates counterclockwise. B. shifts to the right. C. rotates clockwise. D. shifts to the left.
Government transfer payments...
What will be an ideal response?
Initially trade between the United States and Canada is balanced. Then, if a change in the exchange rate reduces the U.S. dollar price of Canadian goods, ceteris paribus, we would expect
A. a trade deficit in Canada. B. a trade surplus in the United States. C. a trade surplus in Canada. D. a trade deficit in both countries.