In the standard unemployment rate, discouraged workers are counted as:
A. part of the labor force.
B. employed.
C. unemployed.
D. part of the population over 16.
Answer: D
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Define imputed rental income. Is imputed rental income taxed? Based on your answer, discuss the tax code treatment of homeowners and renters on equity grounds
What will be an ideal response?
The idea of time inconsistency explains procrastination by:
A. recognizing that we have several modes of decision making, and the less time we have to react, the worse the decision is. B. recognizing that our ability to remember long-term benefits when making decisions diminishes the closer the action becomes. C. recognizing that we have two modes of decision making, a "future-oriented" and a "present-oriented" self, who have conflicting objectives. D. recognizing that we never take long-term benefits into account.
The extent of discrimination is
a. measured by the differences in incomes. b. the reason for two-thirds of the income differential between black male workers and white male workers. c. difficult to quantify and controversial. d. easily measured for each category of workers.
When the price of one product falls,
a. consumers' real income will increase. b. consumers will buy less of that product. c. consumers will not change their buying patterns. d. consumers' real income will decrease.