The increase in government spending on unemployment insurance payments to workers who lose their jobs during a recession and the decrease in government spending on unemployment insurance payments to workers during an expansion is an example of
A) discretionary monetary policy. B) automatic stabilizers.
C) automatic monetary policy. D) discretionary fiscal policy.
B
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Define utility. What are individual units of utility called?
What will be an ideal response?
Which of the following is an example of a compensating wage differential?
A) Workers in a dynamite mine receive higher wages than if they worked in other jobs that require the same level of skills. B) Nurse anesthetists are paid less than anesthesiologists (who have medical degrees). C) In the market for lawyers, top graduates from the top programs earn starting salaries that are significantly higher than the starting salaries earned by lower-ranked graduates from the lower-ranked programs. D) Popular movie stars like George Clooney command much higher salaries than other talented but lesser-known actors.
If a smaller quantity is supplied at each price, then
a. supply has decreased. b. supply has increased. c. demand has decreased. d. demand has increased. e. none of these is true.
If the number of unemployed equals 125,000 and the number of employed equals 275,000, the labor-force participation rate
A. is 31.2%. B. is 68.8%. C. is 75%. D. cannot be determined from this information.