Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top 10 universities in her field. The type of unemployment she is experiencing is:
a. frictional.
b. structural.
c. seasonal.
d. cyclical.
e. underemployment.
a
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A firm will invest in a project if
A) the interest rate exceeds the opportunity cost of the project. B) the firm's level of capital is at the desired level. C) the firm's level of capital is higher than the desired level. D) the rate of return of the project is greater than the opportunity cost of the investment.
The size of a tax distortion depends on how elastic the parties are to a transaction.
Answer the following statement true (T) or false (F)
A public good is nonrivalrous and excludable
a. True b. False Indicate whether the statement is true or false
Figure 11-3
In Figure 11-3, which line represents the change in the consumption schedule caused by a cut in fixed taxes?
a.
C1 in graph (a)
b.
C2 in graph (a)
c.
C1 in graph (b)
d.
C2 in graph (b)