If the government thinks the natural unemployment rate is 5%, when it is really 6%, then the government will
A) overestimate the actual deficit.
B) underestimate the actual deficit.
C) overestimate the cyclically adjusted deficit.
D) underestimate the cyclically adjusted deficit.
E) none of the above
C
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The unemployment rate is higher with a minimum wage law than it would be without a minimum wage law
Indicate whether the statement is true or false
To improve package delivery, one change UPS made involved improvements in how packages were routed. The firm started using more detailed maps to plan the routes for packages
As a result, the typical delivery driver could travel several miles less per day while delivering more packages. Which of the following statements best describes this change at UPS? A) The firm is able to produce more output (deliver more packages) using the same number of inputs (trucks and drivers). Therefore, UPS has implemented a positive technological change. B) Technological change refers only to the introduction of new products or improvements to existing products. As such, the scenario described in the question is not technological change. C) The change implemented is not an example of technological change because it did not require the use of new machinery or equipment. D) The scenario described is an example of management efficiency and not technological change. Essentially, the chain changed its way of operating its business.
Which of the following achieves the efficient use of a common resource?
a) property rights, individual transferable quotas, and subsidies b) individual transferable quotas and copyrights c) property rights, quotas, and individuals transferable quotas d) property rights, quotas, and subsidies
In a famous series of commercials, the International Ladies’ Garment Workers Union (ILGWU) urged buyers to “look for the union label” and to avoid buying clothes not made by ILGWU members. Through the commercials, the ILGWU tried to attain its goals by
A. restricting the number of ILGWU members. B. featherbedding. C. raising the marginal revenue products of ILGWU members. D. creating lower prices for goods made by ILGWU members.