What is a necessary condition for being categorized as unemployed?
A) Being homeless
B) Actively searching for a job
C) Having no source of income
D) Having no hope of finding a job in the foreseeable future
B
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Keynes believed that changes in autonomous spending were dominated by changes in
A) consumer expenditure. B) autonomous consumer expenditure. C) investment spending. D) taxes. E) none of the above.
A government-sponsored good is one that
A) is desirable to no one but ruled desirable by the court system nonetheless. B) everyone agrees is socially desirable. C) freely competitive markets have determined is socially desirable. D) the political process has determined is socially desirable.
Will the imposing of a minimum wage lead to a larger increase in the unemployment rate if the labor supply curve is relatively price elastic or relatively price inelastic?
Which of the following events would cause the interest rates in an economy to increase?
a. Lower tax rates b. A high discount rate c. Lower reserve requirements d. An open market operation to buy bonds