Which of the following are policies that can affect cyclical unemployment?
a. adjust interest rates
b. provide welfare assistance
c. regulate hiring practices
d. provide unemployment compensation
a. adjust interest rates
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If leisure is an inferior good, then an increase in wages will cause workers to work more.
Answer the following statement true (T) or false (F)
When airplanes take off and land at Logan Airport, the residents of East Boston complain about the noise. The same planes make the same noise during the trip to Boston from Paris, but on this run, over the Atlantic
a. the sound is muffled at high altitudes, creating less market failure b. market failure does not apply because it is an international flight c. there are no externalities because there are no third parties d. the positive externalities of the flight outweigh the negative externalities of the noise e. free riders are more numerous so that market failure is eliminated
The relationship between planned consumption and real disposable income is referred to as
A. the multiplier. B. the wealth function. C. the saving function. D. the consumption function.
Refer to the data. Assuming total fixed costs equal to zero, the firm's:
A. economic profit is $12.
B. economic profit is $16.
C. loss is $14.
D. economic profit is $3.