Economists believe that individuals:
A. have varying tastes for taking on financial risks, but are risk-averse in general.
B. have the same tastes for taking on financial risks, and are risk-seekers in general.
C. have varying tastes for taking on financial risks, but are risk-seekers in general.
D. have the same tastes for taking on financial risks, and are risk-averse in general.
Answer: A
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The figure above shows that the deadweight loss from the tariff is
A) $20 million per year. B) $30 million per year. C) $15 million per year. D) $55 million per year. E) zero.
Which of the following has a tendency to raise the unemployment rate?
A) implementing a minimum wage above the market wage in an economy B) reducing unemployment insurance in an economy C) offering wages at the market-clearing rate D) reducing labor union membership in an economy
For the labor force to definitely increase,
A. People must turn from being discouraged workers into people actively seeking employment. B. There must be an increase in immigration. C. There must be an increase in total population. D. None of the choices are correct.
If movies are an inferior good, movie attendance will rise when consumer incomes fall
a. True b. False Indicate whether the statement is true or false