A tax is efficient if it imposes a large excess burden relative to the tax revenue it raises
Indicate whether the statement is true or false
FALSE
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Most of the unemployment experienced during the Great Depression was
a. cyclical. b. structural. c. seasonal. d. functional.
Refer to the above figure. A surplus occurs if the government imposes
A. a price floor at $20. B. a price ceiling at $20. C. a price floor at $60. D. a price ceiling at $60.
When a currency is undervalued, international reserves ________ and the country has a balance-of-payments ________.
A. decrease; surplus B. increase; deficit C. decrease; deficit D. increase; surplus
How would the Bureau of Labor Statistics classify a college graduate who is not currently working but recently turned down an offer for employment at $10 an hour in order to keep looking for a better job?
a. not in the labor force b. employed c. unemployed d. on temporary absence from school