What will be the outcome of a government law requiring employers with more than 100 employees to incur additional employee-related costs?
a. raise the cyclical rate of unemployment
b. lower the cyclical rate of unemployment
c. raise the natural rate of unemployment
d. lower the natural rate of unemployment
c. raise the natural rate of unemployment
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A rival good is defined as a good for which there are substitutes
Indicate whether the statement is true or false
People are most likely to make their opinions on a potential piece of legislation known to their representatives when
A) the legislation matters greatly to them, whether or not it affects their private interests. B) the legislation will affect their private interests substantially. C) they believe their actions will make enough difference to justify the effort. D) they can do so at low cost to themselves.
Which of the following are primarily macroeconomic topics and which are primarily microeconomic topics?
a. college tuition rates b. farm subsidies c. national income d. automobile prices e. air traffic congestion f. economic recession
Expenditure switching refers to
A) a switching back and forth between investment and consumption expenditures. B) a switching back and forth between domestic and foreign goods in response to changes in the exchange rate. C) a switching back and forth between domestic and foreign goods in response to changes in the interest rate. D) a switching of back and forth in the current account from a deficit to a surplus and vice versa. E) All of the above.