Unemployment insurance reduces the incentive for the unemployed to find and take new jobs
a. True
b. False
Indicate whether the statement is true or false
True
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The ceteris paribus assumption means
A) favors are returned in kind. B) this is the proof of the matter. C) from many, one. D) other things are equal.
Along the inelastic portion of a demand curve,
a. the change in price will always be less than the change in quantity demanded. b. the percentage change in price will be less than the percentage change in quantity demanded. c. the change in price will always be more than the change in quantity demanded. d. the percentage change in price will be more than the percentage change in quantity demanded.
What is meant by equilibrium wage (W*)?
a. wage at the point of diminishing marginal product b. median cost of labor, with half making more and half less c. price of labor at the level where supply and demand meet d. fair wage without consideration of supply or demand
In the crowding-out effect, ______.
a. government purchases increase interest rates, which crowd out investment and consumer spending and shift the aggregate demand curve to the left b. higher interest rates increase investment and consumer spending, which crowd out government purchases and shift the aggregate demand curve to the left c. government purchases lower interest rates, which crowd out unemployment and inflation and shifts the aggregate demand curve to the right d. low interest rates lead to increased government spending, which is crowded out by investment and consumption spending and shifts the aggregate demand curve to the right