Unemployment insurance
a. may improve the ability of the economy to match workers with appropriate jobs.
b. reduces the job search efforts of the unemployed.
c. increases the amount of frictional unemployment in the economy.
d. All of the above are correct.
d
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The economy's Current Account measures primarily
a. sources and uses of current income b. income and outflow of payments for goods and services c. tax receipts and government spending d. changes in foreign exchange holdings e. none of the above
Another commonly used algebraic form for a demand function is the semi-logarithmic functional form, ln(Q) = a - bP + cI, where Q is quantity demanded, P is the product price, and I is income
Here, 100 c represents the percentage change in quantity demanded given a one unit increase in income. For a normal good, we should expect the value of c to be: A) positive. B) negative. C) positive or negative. D) We do not have enough information to answer this question.
An increase in the price of an input to a perfectly competitive industry will: a. increase price and reduce the number of firms
b. increase price and increase the number of firms. c. increase price and have an ambiguous effect on the number of firms. d. reduce the number of firms and have an ambiguous effect on price.
The figure below represents the effects in the labor markets due to migration. Here, the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating.
The world's net gain due to migration is represented by the area
A. (a + f). B. (b + f). C. (a + b). D. (e + f).