The "benefits" from government programs to reduce mismatch unemployment include reduction in
A) private costs such as lost income and erosion of job skills.
B) private costs such as lost leisure and lower alcohol consumption.
C) social costs such as lower unemployment compensation and welfare payments.
D) A and C.
D
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As of 2008, the members of the WTO account for what percentage of world trade?
A) 3 percent. B) 23 percent. C) 57 percent. D) 97 percent
The theory that people will expect fiscal and monetary policies to have certain effects and that they will take actions that make these policies ineffective is the
A. accelerating inflation theory. B. adaptive expectations theory. C. rational expectations theory. D. quantity theory of money.
Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased InputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$0.75The Corner Store$2.50$2.00If the corn was grown and the jar of popcorn produced in the year 2017, but the jar was sold at Friendly Groceries in the year 2018, what is the contribution of these transactions to GDP in the year 2018?
A. $1.50 B. $0.00 C. $0.50 D. $4.00
The condition where firms do not want to sell as many as consumers want to buy is called
A. a market collapse. B. a surplus. C. an equilibrium. D. a shortage.