A cost of unemployment typically borne by society at large rather than the unemployed themselves is:
A. lost self-esteem.
B. lost tax revenue.
C. lost income.
D. feelings of loss of control over one's life
Answer: B
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The magnitude of the slope of an indifference curve
A) is equal to the marginal rate of substitution. B) always equals the relative price of the product measured along the horizontal axis. C) increases as income increases. D) decreases when income increases.
Which of the following will result in the money market when the price level in an economy rises, while the supply of money remains unchanged? a. The demand for money will decrease
b. The supply of money will increase. c. The rate of interest will decrease. d. The total investment spending in the economy will increase. e. The rate of interest will increase.
If a piece of currency must be accepted for payment because the government says so, the currency is called
a. commodity money b. money backed by gold c. high-powered money d. greenbacks e. fiat money
Indifference curves
A) are vertical. B) are horizontal. C) slope upward. D) slope downward.