By offering training to workers whose firms laid them off because of competition from foreign firms, the federal government is attempting to reduce
A) unnatural unemployment.
B) frictional unemployment.
C) structural unemployment.
D) cyclical unemployment.
E) seasonal unemployment.
C
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In a closed economy, equilibrium real Gross Domestic Product (GDP) occurs where
A) the C + I + G line crosses the 45-degree line. B) saving exceeds planned investment. C) planned expenditures exceed national income. D) all of these.
One key assumption lying behind the policy irrelevance proposition is that
A) wages are "sticky" downward. B) prices are "sticky" upward. C) the rational expectations hypothesis is correct. D) markets are not purely competitive.
In the above figure, what is the wage rate the monopsonist will pay?
A) W1 B) W2 C) W3 D) W4
Bill Gates is the world's second richest person whose net worth is estimated at $54 billion. The idea that Bill Gates marginal utility for his 54 billionth dollar is less than someone else's 1000th dollar is the
A) "Utilitarian" principle. B) "Big Tradeoff" principle. C) "Make the Poorest as Well Off as Possible" principle. D) "Equity" principle.