What are the four categories of unemloyed individuals determined by the Bureau of Labor Statistics?
What will be an ideal response?
First are job losers, who became unemployed involuntarily through termination or layoff. Second are reentrants, which are people who worked at a full-time job before but have been out of the labor force for a while. Third are job leavers who voluntarily leave their jobs, and the last are new entrants, who are people who never worked a full-time job for two weeks or longer.
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As a way to still be able to transact with the low-risk individuals, insurance companies can
a. Offer them partial insurance b. Offer them insurance with deductibles c. Offer them insurance with co-payments d. All of the above
The allocation of resources is efficient under an idealized free market system.
Answer the following statement true (T) or false (F)
The presence of positive externalities _____ justify the current structure of government programs for higher education.
A. should B. does C. should not D. does not
An economy produces only 500,000 tables valued at $100 each. Of these, 100,000 are sold to consumers, 200,000 are sold to businesses, 100,000 are sold to the government, and 50,000 are sold abroad. No tables are imported. At the end of the year, the table manufacturers hold the unsold tables in inventory. What is the value of the investment component of GDP?
A. $10 million B. $50 million C. $2 billion D. $25 million