Brad details cars and Angelina babysits. Angelina agrees to babysit for Brad's kids if he details her minivan. This is an example of
A. legal tender.
B. commodity money.
C. barter.
D. fiat money.
Answer: C
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Unemployment arising from job search is called:
A) disguised unemployment. B) frictional unemployment. C) structural unemployment. D) cyclical unemployment.
The government wants to reduce white-collar crime. a. Suppose for the moment innocent people are never wrongly convicted of a crime
Explain why the Becker model of crime and punishment suggests that we increase the fines people pay if they are convicted instead of hiring more people to investigate white-collar crime. b. Now suppose that mistakes happen and innocent people are sometimes convicted of white-collar crime. Why in this case might we want to hire more investigators instead of raising fines? What role does equity or fairness play in this case?
Suppose a worker signs a contract containing an 8 percent nominal wage increase with inflation expected to be 3 percent. Inflation turns out to be 6 percent, but the contract also contains 60 percent COLA protection
The worker's real wage under the contract A) falls by 1.2 percent. B) falls by 2.4 percent. C) rises by 3.8 percent. D) rises by 3.0 percent. E) rises by 1.8 percent.
If a 20 unit tax is placed on a seller, then
A. both parties will share the tax burden equally. B. the buyer will bear all of the tax burden. C. the seller will bear all of the tax burden. D. the distribution of the tax burden cannot be determined from the information given.