The human costs of unemployment are
a. insignificant
b. not as important as the economic costs of unemployment
c. equal to the economic costs of unemployment
d. not measured in dollars, but are extremely important considerations
e. the opportunity cost of lost output
D
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Explain why a change in income tax rates causes the consumption schedule to change slope
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and GDP Price Index in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and GDP Price Index falls. b. The real risk-free interest rate falls, and GDP Price Index rises. c. The real risk-free interest rate rises, and GDP Price Index falls. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The real risk-free interest rate and GDP Price Index remain the same.
Most labor economists believe that the supply of labor is much more elastic than the demand
a. True b. False Indicate whether the statement is true or false
The government’s profit from printing currency is called
a) seignorage b) arbitrage c) the rate of exploitation d) the inflation tax e) the velocity of money