Unemployment insurance tends to lead to the unemployed worker spending less time unemployed.
Answer the following statement true (T) or false (F)
False
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All else equal, when oil prices decrease, oil exploration processes like hydraulic fracturing become less advantageous for oil companies, and this will ________ proven reserves of oil and ________ the number of years it will take to deplete the stock
of oil. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
When government provides a good with an external benefit, to attain efficiency the price paid by consumers is set equal to the
A) marginal private benefit at the efficient level of output. B) marginal private cost at the efficient level of output. C) amount paid by taxpayers. D) market-determined price. E) marginal external benefit at the efficient level of output.
One of the main sources of comparative advantage is natural resources
Indicate whether the statement is true or false
Which of the following equations is CORRECT?
A. accounting profit = total revenue - (explicit costs + implicit costs) B. economic profit = accounting profit - explicit costs C. normal profit = accounting profit + economic profit D. economic profit = accounting profit - implicit costs