During recessions, unemployment insurance payments tend to rise

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Explain what economists mean when they characterize the income tax system as progressive

What will be an ideal response?

Economics

American manufacturers rapidly dropped waterwheels when the steam engine was introduced

Indicate whether the statement is true or false

Economics

According to the graph shown, if this economy were to open to trade, consumers would:

This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.

A. enjoy a net gain to surplus of DEFG.
B. suffer a net loss to surplus of DEFG.
C. suffer a transfer of surplus to the producer of DEFG.
D. experience deadweight loss of FG.

Economics

The no-trade equilibrium in a perfectly competitive market occurs where:

a. marginal revenue = price. b. marginal cost = total revenue. c. market quantity demanded = market quantity supplied. d. average revenue = price.

Economics