Mismatch and turnover unemployment, while conceptually easy to distinguish, are often difficult to identify. Ceteris paribus, a person out of work for two months would be classified by Gordon as
A) experiencing turnover unemployment.
B) experiencing mismatch unemployment.
C) impossible to distinguish the type.
D) first frictionally unemployed (the first month) and then structurally unemployed.
A
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If a product has an external benefit, how does its marginal private benefit compare to its marginal social benefit?
A) Marginal private benefit is less than marginal social benefit. B) Marginal private benefit is greater than marginal social benefit. C) At low quantities, marginal private benefit is less than marginal social benefit but at high quantities, marginal private benefit is greater than marginal social benefit. D) At low quantities, marginal private benefit is greater than marginal social benefit but at high quantities, marginal private benefit is less than marginal social benefit. E) Marginal private benefit cannot be compared to marginal social benefit.
Economic decision makers will continue to acquire information only as long as the expected additional benefit exceeds the expected additional cost of the information
a. True b. False
Production possibilities frontiers cannot be used to illustrate tradeoffs
a. True b. False Indicate whether the statement is true or false
Which of the following shifts the aggregate demand curve rightward?
A) a decrease in government expenditure on goods and services B) a decrease in consumption C) an increase in investment D) a decrease in net exports