Economists would predict that, other things the same, the more generous unemployment compensation a country has, the
a. shorter the duration of each spell of unemployment and the higher the unemployment rate.
b. shorter the duration of each spell of unemployment and the lower the unemployment rate.
c. longer the duration of each spell of unemployment and the higher the unemployment rate.
d. longer the duration of each spell of unemployment and the lower the unemployment rate.
c
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Which statement best illustrates the concept of diminishing marginal utility?
A. Some consumers will receive less satisfaction from consuming pizza than from consuming hamburgers. B. As one consumes more slices of pizza for lunch, one would be willing to pay a higher price for additional slices. C. A typical consumer will receive less satisfaction from consuming the third slice of pizza for lunch than from the second slice. D. A decrease in the price of slices of pizza will cause consumers to buy more slices for lunch, because they can afford to buy more.
Which of the following track the average prices received by producers?
What will be an ideal response?
To avoid the problem of double marginalization:
A. firms should engage in commodity bundling, unless it is possible to engage in either first-or second-degree price discrimination. B. transfer prices must be set that maximize the overall value of the firm rather than the profits of the upstream division. C. firms should put more emphasis on vertical integration. D. firms should engage in two-part pricing.
Prescott's calibrated RBC model was able to match the data in terms of the ________ between many key macroeconomic variables and GNP; that is, in terms of how closely they moved with GNP over the business cycle.
A. interdependence B. sigma ratio C. correlation D. gamma coefficient