The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment?
A) frictional unemployment
B) structural unemployment
C) cyclical unemployment
D) seasonal unemployment
Answer: A
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The marginal social benefit from the production of the last unit of a good is $4,800. If the willingness to pay for that unit is $3,900, what is the external benefit from its production?
A) $900 B) $8,700 C) $3,800 D) $4,100
If a monopoly is producing an amount of output level at which marginal revenue exceeds marginal cost, in order to increase its profit the monopoly will ________ its price and ________ its output
A) raise; decrease B) lower; increase C) lower; decrease D) raise; increase
If the income tax system were indexed, a person whose nominal income went up from $30,000 to $33,000 in a year when the price index rose by 10 percent would pay
A. no increases in nominal income taxes. B. no increases in real income taxes. C. lower taxes in both real and nominal terms. D. higher taxes in both real and nominal terms.
One reason why nations trade is because
A. trading provides opportunities to earn profits. B. the rate of interest is not the same in all countries. C. resources are not equally distributed to all nations. D. some nations like to build one thing while others like to build another.