In the figure above, in order to promote an efficient allocation of resources, the government could impose a tax equal to
A) zero.
B) $250 per unit.
C) $150 per unit.
D) $100 per unit.
D
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Which of the following is true for the economy depicted in Figure 9-2?
a. potential output equals y1 b. it would be impossible for this economy to achieve an output greater than y1 c. when output y1 is achieved, the actual rate of unemployment will exceed the natural rate of unemployment d. when output y1 is achieved, the actual rate of unemployment will be less than the natural rate of unemployment
By the start of the Civil War, the value of woman's labor was, on average, equal to that of an adult male due to technological advancements
Indicate whether the statement is true or false
All of the following are examples of normative statements EXCEPT:
A. Low unemployment is more desirable than low inflation. B. High rates of economic growth are preferable to low rates. C. Output per person should increase at an average annual rate of 5 percent. D. Output per person typically grows more slowly than output per worker.
Eric was laid off two months ago. He has not searched for other work because he is expecting to be recalled to work. The Bureau of Labor Statistics counts Eric as
a. unemployed and in the labor force. b. unemployed and not in the labor force. c. employed and in the labor force. d. not in the labor force.