What are some of the drawbacks, as you see them, to a program like Workfare?
What will be an ideal response?
Workfare requires a good deal of monitoring to ensure that participants are gaining skills. In
addition, there have to be jobs available, which may not be the case. Some participants do not
have the necessary education required for certain jobs and first need to concentrate on
increasing their human capital regarding education.
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How does a per-unit subsidy affect the simple monopoly equilibrium?
a. The subsidy does not affect marginal cost and thus does not affect the monopoly equilibrium. b. The subsidy lowers the price charged by the monopoly, but it also lowers social gain. c. The subsidy increases the monopoly's profit but does not improve social gain. d. The subsidy causes both monopoly output and social gain to increase.
If GDP per capita in year T is represented by YT, and the GDP per capita in the following year is represented by YT+1, then the formula for calculating growth rate between these two years is ________
A) (YT+1 - YT)/YT B) (YT+1 + YT)/YT+1 C) (YT+1 + YT)/YT D) (YT+1/YT)/100
If potential output exceeds actual output, the economy:
A. is in neither a short-run nor long-run equilibrium. B. is experiencing a recessionary gap. C. is experiencing an inflationary gap. D. may be in a long-run equilibrium but is not in a short-run equilibrium.
Sealed bid construction contracts are examples of market games that are
A. simultaneous and nonrepeated. B. sequential and nonrepeated. C. sequential and repeated. D. simultaneous and repeated.