People are unemployed if they are over 16 and not working due to:
A. The inability to find a job even though they are looking.
B. A two-week summer vacation.
C. A strike.
D. The lack of motivation to look for work.
A. The inability to find a job even though they are looking.
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The reason some insurance customers are more eager to purchase insurance is
a. they are more risk averse b. they are less risk averse c. they have a greater risk of making a claim d. A and C
Government decisions tend to be biased toward actions that have
a. current costs and future benefits that are both easily observable. b. future costs that are difficult to identify and current benefits that are easily observable. c. future costs and future benefits that are both difficult to identify. d. current costs that are easily observable and future benefits that are difficult to identify.
Which of the following is not a leading actor in labor markets?
A. workers B. government C. firms D. consumers E. unions
An analysis of production possibilities curves indicates that the reason why underdeveloped nations have difficulties increasing their economic growth rates is because:
A. low population growth rates mean fewer workers to produce food and other necessities. B. their production possibilities curves shift in when resources are increased. C. the opportunity cost of shifting resources from consumption goods to capital goods is relatively low. D. they must cut back their already meager consumption levels to increase capital production.