What is unemployment compensation?
What will be an ideal response?
Unemployment compensation is a state government transfer program that pays cash benefits for a certain period of time to laid-off workers who have worked for a specified period of time for a covered employer.
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Suppose the government imposes a price support that is above the equilibrium price. As a result,
A) total revenue increases. B) consumer surplus increases. C) the marginal cost of the last unit produced decreases. D) the government has effectively imposed a price ceiling. E) the subsidy the government pays decreases.
Explain why low-skilled workers find that their employment opportunities are less with a minimum wage
What will be an ideal response?
If a pharmaceutical firm is researching ways to improve its heartburn medicine and discovers a technique that will improve its allergy medicine, one could conclude that economies of scope exist in that industry
Indicate whether the statement is true or false
When people alter behavior in response to taxes, which of the following is not true?
A. Excess burden is created. B. Inefficiency occurs. C. Tax shifting might occur. D. The excise tax rate can increase.