A major difference between the costs of unemployment and the costs of inflation is that
A) the former is structural the latter frictional.
B) the government pays the latter, the population pays the former.
C) unemployment costs are concentrated among a few people, while inflation costs are distributed more broadly across the entire population.
D) unemployment costs are distributed among people, while inflation costs are distributed more narrowly across the entire population.
C
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The ________ is the total number of people aged 16 years and older (and not in jail, hospital or institutional care) while the ________ is the number of people employed and the unemployed
A) labor force; working-age population B) labor force participation rate; labor force C) working-age population; labor force D) working-age population; labor force participation rate
Adam Smith
A. argued that capitalism is often confused with democracy. B. wrote Das Kapital. C. said that the entrepreneur is motivated by self-interest. D. coined the phrase: "From each according to his ability, to each according to his needs."
Which of the following statements is correct?
A. Slope is the ratio of the vertical change (the rise or fall) to the horizontal change (the run). B. A direct relationship is one in which two variables change in the opposite direction. C. An inverse relationship is one in which two variables change in same directions. D. An independent relationship is one in which two variables are upward sloping.
Refer to the above figure. The figure represents the consumption function for a consumer. Point A represents
A. autonomous consumption. B. positive saving. C. negative consumption. D. zero saving.