Matt loses his job and decides to sit on the beach rather than looking for work the next few months. Other things the same, what happens to the unemployment rate and labor-force participation rate?
What will be an ideal response?
Matt loses his job and decides to sit on the beach rather than looking for work the next few months. Other things the same, what happens to the unemployment rate and labor-force participation rate?
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Explain what causes the three types of unemployment. What advice for finding a job would be appropriate for someone in each type of unemployment?
What will be an ideal response?
Which of the following questions would a macroeconomist most likely try to answer?
A. What stage of the business cycle is our economy currently in? B. Why do Broadway musicals and airlines have different price discrimination strategies? C. How much would marijuana consumption change if the market became legal? D. Should the 5-Hour Energy firm increase its distribution from national to international?
Two companies, Dirty Inc. and Filthy Inc., each of which has access to 5 different production processes, each of which has a different cost and produces a different amount of pollution. The daily costs of the processes and the number of tons of smoke emitted are shown in the table below.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Dirty Inc. ($/day)$100$200$380$740$1,460Cost to Filthy Inc. ($/day)$400$430$490$580$700 If pollution is unregulated, then a total of ________ tons of smoke will be emitted each day.
A. 1 B. 2 C. 8 D. 4
A barter economy is one in which:
A. money serves as a medium of exchange. B. only precious metals are accepted as money. C. goods are traded directly for other goods. D. paper money is backed by gold.