Most spells of unemployment are long, and most unemployment observed at any given time is long-term
a. True
b. False
Indicate whether the statement is true or false
False
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Jeong's uncompensated demand for gizmos is given by Q = 30 - 2p. Jeong's marginal willingness to pay function is
A) 30-2p. B) 15-.5Q. C) 30-2Q. D) -2.
The determinants of labor supply include:
A. culture and other opportunities. B. supply of other factors and output prices. C. culture and technology. D. other opportunities and technology.
Determine whether each of the following transactions will be counted in the 2005 GDP of the United States. If the transaction is counted, identify which expenditure component (personal consumption, gross investment, government consumption and gross investment, or net exports) will be affected
a. Norm, a frequent visitor to a local bar, purchases a Budweiser beer. (Budweiser beer is domestically produced.) b. The owner of the local bar purchases a new domestically made cooler unit in which to store his beer. c. Carla, a U.S. foreign exchange student, works her way through college in Germany as a waitress in a bar. d. On her night off, Carla purchases a Budweiser beer for her friend in the German bar.
Which of the following is an economic or political question regarding income redistribution?
A. How does a society go about making income distribution more equal? B. Will redistributing income from the wealthy to the poor destroy incentives? C. Will there be costs associated with income redistribution policies? D. All of the above are economic or political questions regarding income redistribution.