Public choice analysis
a. assumes individuals in the public sector act in their own self-interests.
b. assumes individuals seek to serve the public interest rather than their own personal interests.
c. is the study of decision making in the formation and operation of private organizations.
d. assumes the government is a corrective device that takes the necessary action to offset economic inefficiency arising from market failure.
A
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A discouraged worker ________ counted as officially unemployed and ________ counted as in the labor force
A) is; is B) is; is not C) is not; is D) is not; is not
In the open-economy macroeconomic model, net capital outflow rises if
a. either the exchange rate rises or the real interest rate falls. b. either the exchange rate falls or the real interest rate rises. c. the real interest rate rises. Net capital outflow does not depend on the exchange rate. d. the real interest rate falls. Net capital outflow does not depend on the exchange rate.
Unemployment due to the length of time it takes to find employment upon entering the labor force or voluntarily between jobs is called
A. cyclical unemployment. B. frictional unemployment. C. structural unemployment. D. natural unemployment.
Which of the following is correct?
A. i. A surplus puts downward pressure on the price of a good. B. ii. A shortage puts upward pressure on the price of a good. C. iii. There is no surplus or shortage at equilibrium. Question 8 options: D. i and ii. ii and iii. i, ii, and iii. only iii. i and iii.