Which of the following is likely to be observed among unemployed individuals if the government offers generous unemployment benefits?
A) Higher motivation to look for a job
B) Increased acceptance of low-paying jobs
C) Lower current consumption
D) Reduced motivation to look for a job
D
You might also like to view...
Using community indifference curves to reflect tastes of the community
A) is a simple extension of indifference curve analysis because people are so different. B) cannot usually be done because the community may have inconsistent tastes even though its residents do not. C) is a simple extension of indifference curve analysis if people are all alike. D) Both B and C.
If the farmer is producing 5000 bushels of soybeans at point "b" in the above figure, we know that
A) the farmer is not using his resources efficiently. B) the farmer is using his land to produce a crop other than soybeans or corn. C) the farmer must be using more land than was used in constructing the production possibilities curve. D) the farmer is using his resources efficiently.
If the price of a good rises by 10% and the percentage decrease in the total amount consumers spend on the good is 5%, then the good is
A. inelastic. B. elastic. C. unit elastic. D. perfectly inelastic.
Economic theory assumes people
A) rarely act generously. B) consistently act selfishly. C) make choices based on a comparison of cost and benefits. D) are fundamentally complex. Therefore, no general theory can be deduced to make sense out of the decisions and choices people make.