Unemployment related to job search is known as ________
A) cyclical unemployment
B) frictional unemployment
C) structural unemployment
D) tertiary unemployment
B
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Classify the following as positive economics statements or normative economics statements
a) An increase in an individual's income increases consumption, but by an amount less than the increase in income. b) The government should undertake the responsibility of providing healthcare to all its citizens. c) A trade deficit can be advantageous to an economy. d) An increase in net exports has a positive effect on a country's national income. e) The gross domestic product of India is increasing at 5% annually.
Suppose that Jinelle, an engineer, has to choose between two jobs. Which of the following statements is true?
A) When deciding between both jobs, she should consider both wage and non-wage attributes of each job. B) While deciding between jobs, she should focus only on the costs of each job and ignore the benefits. C) While deciding between jobs, she should only focus on the benefits from each job and ignore the costs. D) While deciding between jobs, she should consider the wage attributes and ignore the non-wage attributes of each job.
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a theater ticket. If the price of one ticket is $25
A) no one will buy a ticket. B) Anya's consumer surplus is $1. C) everyone will buy a ticket. D) consumer surplus will be maximized.
The marginal propensity to save (MPS) is computed as the change in:
a. savings divided by the change in saving. b. savings divided by the change in income. c. saving divided by the change in GDP. d. None of these.