Suppose that 130 people are unemployed for part of a given year; 120 are unemployed for 1 month, and 10 are unemployed throughout the year. What percentage of total months of unemployment is attributable to the long-term unemployed?
A. 7.7 per cent
B. 10 per cent
C. 13 per cent
D. 50 per cent
Ans: D. 50 per cent
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Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?
A) 0.04 pounds of wheat B) 4 pounds of wheat C) 25 pounds of wheat D) 40 pounds of wheat
A study attempts to investigate the role of the various determinants of regional Canadian unemployment rates in order to get a better picture of Canadian aggregate unemployment rate behavior
The annual data (1967-1991) is for five regions (Atlantic region, Quebec, Ontario, Prairies, and British Columbia), and four age-gender groups (female and male, adult and young). Focusing on young females, the authors find significant effects for the following variables: the regional relative minimum wage rate (minimum wages divided by average hourly earnings), the regional share of youth in the labor force, the regional share of adult females in the labor force, United States activity shocks (deviations of United States GDP from trend), an indicator of the degree of monetary tightness in Canada, regional union density, and a regional index of unemployment insurance generosity. Explain why the authors only used region fixed effects. How would their specification have to change if they also employed time fixed effects? What will be an ideal response?
Under conditions of oligopoly, economies of large-scale production mean that: a. firms are able to sell all of the output they desire
b. it is difficult for a firm to determine its profit-maximizing price and output. c. large firms would find it more profitable to break up into smaller production units. d. small firms are at a disadvantage in competing with relatively large firms.
Public education in the United States is
A) subsidized mainly by state and local governments. B) funded by the federal government only. C) paid for mostly by the parents of students. D) paid for through the Social Security program.