Which of the following statements can correctly be made about social regulation? I. Extensive social regulation may have an anticompetitive effect. II. The benefits of social regulation are easier to measure than are the costs of social regulation
A) I only
B) II only
C) both I and II
D) neither I nor II
A
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In the long run, there is
A) a tradeoff between unemployment and inflation. B) a tradeoff between unemployment and natural unemployment. C) a tradeoff between unemployment and real GDP. D) no tradeoff between unemployment and inflation. E) no tradeoff between fiscal policy and monetary policy.
We are told that over the past year actual real GDP has risen by three percent. This fact alone is enough to tell us that
A) the unemployment rate has fallen. B) the inflation rate has risen. C) the actual real GDP is above natural real GDP. D) productivity has grown. E) none of the above.
Discouraged workers are defined as those: a. whose productivity is low because working in dead-end jobs reduces their morale
b. who are counted as frictionally unemployed, having become dissatisfied with their previous jobs. c. who are counted as structurally unemployed, lacking training for the skilled positions for which they are applying. d. who have given up looking for a job and are not counted as unemployed.
Which of the following is not considered human capital?
a. the golf clubs a professional golfer uses to play golf b. the skills a professional golfer has gained by practicing on the driving range c. the professional golfer's knowledge of how to play a better game learned from talking with other players d. none of the above would be considered human capital