Which of the following will most likely reduce the natural rate of unemployment?
a. an increase in the minimum wage
b. an increase in unemployment benefits
c. an increase in the proportion of prime-age workers (35-54) as a share of the labor force
d. an increase in the labor force participation rate of teenagers
Answer: c. An increase in the proportion of prime-age workers (35-54) as a share of the labor force
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What will be an ideal response?
Who still has to economize?
A) The senior citizen who receives a 10% discount at the local coffee shop B) The day-after-Christmas shopper who enjoys sales of up to 70% on holiday merchandise C) Bill Gates D) All of the above. E) None of the above.
Larry consumes at a point on his budget line where his marginal rate of substitution is less than the magnitude of the slope of his budget line. As Larry moves toward his consumer equilibrium point, he will move to a
A) lower budget line. B) higher budget line. C) lower indifference curve. D) higher indifference curve.
On the boundary of the utility possibility frontier, if the utility of one person increases, that of the other will decline
Indicate whether the statement is true or false