We say that the economy is at full employment if the unemployment rate is equal to
A) the amount of cyclical unemployment.
B) the sum of structural and cyclical unemployment.
C) the natural rate of unemployment.
D) the sum of frictional and cyclical unemployment.
E) zero.
C
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Which of the following is definitely true for a per-unit tax in the goods market where neither demand nor supply is perfectly inelastic:
A. The more price inelastic demand is, the lower deadweight loss will be. B. The more price inelastic supply is, the higher deadweight loss will be. C. A demand become more price inelastic, the after tax price for consumers rises. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. All of the above H. None of the above
The original reasons for founding the colony of Georgia do not include:
a. alleviating London of some of its poorer people. b. being a partial remedy to the injustice of debtor prisons. c. providing a buffer between the English and Spanish colonies. d. being a scheme to take advantage of desperate families.
Which of the following is a problem with government regulation of natural monopolies?
a. creation of excessive profits levels b. reduced incentives to cut costs c. decreased number of firms in the market d. lack of influence from special interest groups
An example of expansionary fiscal policy is
A) an increase in government spending, or an increase in taxes, or both. B) a decrease in government spending, or a decrease in taxes, or both. C) an increase in government spending, or a decrease in taxes, or both. D) a decrease in government spending, or an increase in taxes, or both. E) holding government spending constant while increasing taxes.