The unemployment rate in the United States:
A. can be zero in both expansions and recessions.
B. equals zero during booms.
C. falls to zero during expansions.
D. never falls to zero.
Answer: D
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According to the Real Business Cycle model real wages should
A) remain constant. B) fall during recessions. C) rise during recessions. D) stay the same during recessions but rise during expansions.
That an increasing number of jobs that do not pay enough to subsist on is ____ theory of poverty.
A. a conservative B. a liberal C. both a liberal and a conservative D. neither a liberal nor a conservative
Where should a producer stop devoting more of his spending on labor if initially the MRP of the additional dollar spent on labor is higher than the MRP of the additional unit spent on tools?
A. MRP/$ of additional labor falls below MRP/$ of additional tools. B. MRP/$ of additional capital increases above MRP/$ of additional tools. C. MRP/$ of additional labor becomes equal to MRP/$ of additional tools. D. MRP/$ of the additional labor falls to zero.
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers clear-cut a tract of land rather than when paying per tree felled c. Drivers of heavier, safer cares are less likely to run stop signs d. workers on commission work harder than those paid an hourly wage