The unemployment rate is interpreted as the percentage of the
A. able-bodied population who are not working.
B. labor force that are not employed.
C. workforce that have been laid off.
D. adult population who are unemployed.
Answer: B
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If Firm A and Firm B are playing a finitely repeated game and both know when the final period is, cooperation ________ possible due to the ________.
A) is; trigger strategy B) is not; trigger strategy C) is; end-period problem D) is not; end-period problem
If the social costs of refining oil are greater than the private costs of oil refining, then
A) the external costs of oil refining are greater than the social costs of oil refining. B) users of products that use refined oil are paying too much for the products. C) there is too much oil refining. D) the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other.
The reform of the welfare system passed by Congress and signed by President Clinton changed the benefits for welfare recipients as it
a. decreased the number of people eligible for benefits, increased the benefit amount for those still eligible, and set a maximum coverage period of five years b. decreased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years c. increased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years d. decreased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of five years e. froze the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years
It is estimated that a 5 percent decline in income will reduce health care purchases by 2.5 percent and reduce dental service purchases by 8 percent. From this information, one can conclude that:
A. health care is a luxury and dental services are necessities. B. both health care and dental services are necessities. C. both health care and dental services are luxuries. D. health care is a necessity and dental services are a luxury.