If the government eliminated unemployment benefit payments what would be the effect on the level of real GDP and well being in the economy?
Answer : GDP and well-being would fall due to unemployed workers accepting jobs they are not best suited for
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An increase in labor productivity
A) increases the standard of living. B) might be the result of an increase in the quantity of labor. C) generally occurs when physical capital decreases because firms must then hire more workers. D) cannot occur without a corresponding increase in employment. E) decreases the standard of living.
Other things remaining the same, the quantity of a good or service demanded will increase if the price of the good or service
A) rises. B) falls. C) does not change. D) rises or does not change. E) rises or falls.
A Lorenz curve measures
A) the benefits received through welfare programs. B) the actual income distribution and compares it to an equal income distribution. C) the degree to which income taxes are regressive. D) the effect of flat taxes on income distribution.
The practice of factoring involves
A) the syndication of underwriting large security issues. B) the selling of accounts receivable at a discount in return for cash. C) breaking up large mutual funds into smaller funds. D) spreading the risk of insurance through reinsurance.