According to Okun's law, an increase in the unemployment rate will cause ________ in the level of employment and ________ in the level of output.
A. a decrease; a decrease
B. an increase; a decrease
C. an increase; an increase
D. a decrease; an increase
Answer: A
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Low demand consumers are indifferent between second degree and first degree price discrimination.
Answer the following statement true (T) or false (F)
Nancy loves to landscape her yard, but her neighbor Tom places a low value on his landscaping. When Tom's grass is neglected and gets long, Nancy will mow for Tom. This is an example of: a. the fallacy of composition
b. a pollution tax. c. a private solution to a negative externality problem. d. how lazy Tom is.
The Social Security program is financed directly from
A. payroll taxes. B. voluntary contributions by the elderly. C. sales taxes on goods with inelastic demand. D. poll taxes.
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is CD. If her income increases, her new budget constraint is
A. BD. B. EF. C. AD. D. It is not shown on this graph.