In response to the global recession of 2008 and 2009, governments around the world
A. Expanded public works spending and income transfer programs.
B. Expanded income transfer programs but reduced public spending programs.
C. Reduced public works spending.
D. Reduced income transfer programs.
Answer: A
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The adverse selection of wage cuts argument points out that:
a. employers will try to keep wages from falling when the economy is weak or the business is having trouble, and employees will not expect huge salary increases when the economy or the business is strong. b. the productivity of workers will increase if they are paid more, and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate. c. if an employer reacts to poor business conditions by reducing wages for all workers, then the best workers with the best employment alternatives at other firms are more likely to leave, while the least attractive workers, with fewer employment alternatives, are more likely to stay. d. those already working for firms are "insiders," while new employees, at least for a time, are "outsiders.".
During the Great Depression of the 1930s when the unemployment rate was exceptionally high due to the Great? Depression, the government had employment? programs, such as the Civilian Conservation? Corps, which built campsites and planted trees. These programs were aimed at reducing which type of? unemployment?
A) cyclical
B) avoidable
C) structural
D) frictional
E) discouraged
Which of the following is true?
A. Frictional unemployment implies a lack of available jobs. B. During a recession, cyclical unemployment will be low. C. When an economy is at full employment, actual unemployment will be less than the natural rate of unemployment. D. When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate of unemployment.
If a producer offers a price that is in excess of a consumer's valuation of the good, the consumer:
A. must revalue the good. B. will refuse to purchase the good. C. must buy the good at that price. D. None of the statements associated with this question are correct.