Official unemployment statistics
A. understate unemployment because individuals receiving unemployment compensation are counted as employed.
B. overstate unemployment because workers who are involuntarily working part time are counted as being employed.
C. understate unemployment because discouraged workers are not counted as unemployed.
D. include cyclical and structural unemployment but not frictional unemployment.
Answer: C
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An increase in the marginal propensity to save (MPS)
A) increases autonomous consumption. B) increases the value of the multiplier. C) increases the marginal propensity to consume (MPC). D) none of the above.
An increase in government purchases, ceteris paribus, will
A) increase public saving. B) reduce investment. C) increase the supply of loanable funds. D) reduce real GDP.
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm B of eliminating 2 tons of pollution?
A. $350 B. $250 C. $300 D. $140 E. $540
To maximize its profit, a monopoly should choose a price where demand is:
a. elastic. b. inelastic. c. unitary elastic. d. vertical.