Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits?
a. both Wanda and Arnold
b. Wanda but not Arnold
c. Arnold but not Wanda
d. neither Wanda nor Arnold
c
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Refer to Figure 21-2. Which of the following is consistent with the graph depicted above?
A) There is a shift from an income tax to a consumption tax. B) The government runs a budget surplus. C) New government regulations decrease the profitability of new investment. D) An expected expansion increases the profitability of new investment. Figure 21-3
The difference between GNP and GDP is
A) GNP includes income received from abroad and excludes income paid abroad. B) GNP excludes income received from abroad and includes income paid abroad. C) GNP includes exports and imports. D) GNP excludes exports and imports. E) GNP includes capital flows received from abroad and excludes capital flows to foreign countries.
The amount of money that could have been made by renting a piece of land to be used for building an office building instead of using the land for employee parking is a(n):
a. implicit cost. b. accounting cost. c. explicit cost. d. pure economic cost.
If the production of a product creates external costs, there is an ____ to production of that good which the government can correct for by ____
a. overallocation of resources; granting a subsidy b. overallocation of resources; imposing a per-unit tax c. underallocation of resources; granting a subsidy d. underallocation of resources; imposing a per-unit tax