Which of the following is not correct?
a. The unemployment rate is an imperfect measure of a nation's overall level of economic well-being.
b. Most job search in the U.S. economy takes place without intervention by the government.
c. Most economists agree that eliminating unemployment insurance would increase the nation's overall level of well-being.
d. Other things the same, countries that offer more generous and longer-lasting unemployment insurance benefits are likely to have higher unemployment rates.
c
You might also like to view...
If currencies around the world are based on the gold standard, and the EU lowers the amount of gold for which the euro will trade, then holding all else constant,
A) the euro will depreciate against the dollar. B) the value of U.S. exports to EU countries in terms of the euro will decrease. C) the value of the euro relative to the dollar will stay constant. D) the euro will appreciate against the dollar.
Adam Smith's insight was that prices adjust to guide individual buyers and sellers to reach outcomes where, in many cases,
a. opportunity cost is minimized for buyers. b. scarcity is reduced for society. c. well-being of society is maximized. d. opportunity cost of production is maximized.
The United States generally has a comparative advantage in the development of technology because it has:
A. patent laws, which no other country has. B. large amounts of natural resources. C. a disproportionate share of the world's best research universities. D. the greatest need for new technology.
When a local casino spends millions in TV ads convincing town residents to reject another casino's bid to operate in the area, the most that the casino would be willing to spend is:
A. the producer surplus gained by being a monopoly. B. the consumer surplus gained by being a monopoly. C. deadweight loss. D. total economic surplus.