Outlays for unemployment compensation and welfare benefits
A. Are eliminated when the economy expands.
B. Increase when the economy goes into recession.
C. Remain constant at all times.
D. Increase when the economy experiences a peak.
Answer: B
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Refer to Table 23-11. Using the table above, calculate the unplanned change in inventories for each level of GDP, and explain what will happen to GDP
What will be an ideal response?
What is the purpose of the following figure?
What will be an ideal response?
A permanent increase in the real wage rate has a ________ income effect on labor supply than a temporary increase in the real wage, so labor supply is ________ with a permanent wage increase than for a temporary wage increase
A) larger; more B) larger; less C) smaller; more D) smaller; less
The magnitude of the impact taxes have on job-search effort is:
A. inconclusive. B. hugely negative. C. slightly positive. D. slightly negative.