Who among the following is neither employed nor unemployed?
a. Veronica, who is currently jobless because of the recession but is available for work
b. Lily, who is a journalism student working as a news reporter
c. Steve, who is a civil engineer working at a construction company
d. Kate, who is currently jobless gets unemployment benefits and so is not very eager to look for job
d
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Assume that the lost output due to tax distortions is proportional to the square of the tax rate
If the average cost of the distortion created by taxes is currently $1000, and the tax rate is increased from 40% to 50%, the average cost of the distortion created by taxes will increase to A) $383.33. B) $450.00. C) $640. D) $1562.50.
To function as money, something must hold its purchasing power over time. That is, it must be a
A) store of value. B) standard of deferred payment. C) unit of accounting. D) medium of exchange.
How many members are there of the U.S. Senate Committee on Banking, Housing and Urban Affairs?
A. 15 B. 20 C. 21 D. 28
If the demand curve reflects consumers' full willingness to pay, and the supply curve reflects all costs of production, then which of the following is true?
A. The benefit surpluses shared between consumers and producers will be maximized. B. The benefit surpluses received by consumers and producers will be equal. C. There will be no consumer or producer surplus. D. Consumer surplus will be maximized, and producer surplus will be minimized.