Billy loses his job as a road construction worker and cannot find another position with equivalent pay and benefits. As a result, he is still checking the want ads and reporting to the unemployment office on a weekly basis. He is considered to be:
a. unemployed
b. out of the labor force.
c. underemployed.
d. lazy.
a
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The money demand curve will shift to the left if:
A. the price level increases. B. the nominal interest rate increases. C. the nominal interest rate decreases. D. real income decreases.
The crowding-out effect implies that a government budget deficit ________ the demand for loanable funds and ________ equilibrium investment
A) increases; decreases B) does not change; does not change C) increases; increases D) decreases; decreases E) decreases; increases
Which of the following is an example of a moral hazard?
a. A student committing suicide after failing in an examination. b. A housekeeper leaving a house unlocked after insuring it against burglary. c. An exporter delivering faulty products after receiving a certain fraction of the total payment. d. A person deriving utility from a commodity without paying for it.
An income tax is defined as regressive if
a. the tax liability of those with higher incomes exceeds the tax liability of those with low incomes. b. the tax liability of those with higher incomes is less than the tax liability of those with low incomes. c. those with higher incomes pay a higher percentage of their incomes in taxes than those with low incomes. d. those with higher incomes pay a lower percentage of their incomes in taxes than those with low incomes.