According to researchers, there is a direct link between unemployment and:
A) characteristics of structural unemployment.
B) major social problems such as high levels of education and, health services.
C) inflation.
D) major social problems like higher crime rates, higher rate of depression, heart disease and other illnesses.
D) major social problems like higher crime rates, higher rate of depression, heart disease and other illnesses.
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A minimum wage set above the equilibrium wage rate creates
A) efficiency because it increases most workers' wages. B) efficiency because few workers lose their jobs. C) efficiency because workers can earn a living wage. D) inefficiency and a deadweight loss. E) inefficiency because it creates excessive employment.
If, as an entrepreneur, I am earning accounting profits of $60,000 per year and the opportunity cost of my time is $50,000
A) I am earning economic profits of $10,000. B) I am earning economic profits of $60,000. C) I am earning economic losses of $10,000. D) I should close my business.
How does the equilibrium quantity traded change when there is an increase in supply and a decrease in demand?
A central bank raises the money supply growth rate and keeps it higher. As the economy moves from the short-run equilibrium created by the increase in the money supply growth back to long-run equilibrium what happens to the unemployment rate?