In the 1990s, the Danish government passed laws tightening eligibility requirements for receiving unemployment benefits. What happened in Denmark as a result of this policy change?
a. The size of the labor force declined
b. The unemployment rate decreased
c. More teenagers entered the labor force
d. The wage rate increased
e. The natural rate of unemployment increased
b
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If a $1 increase in price leads to a 3-unit decrease in quantity demanded, then demand must be elastic
a. True b. False
In order to have adequate water access, based on the World Bank definition, there should be
A. A public lake or stream within a mile of everyone's home. B. Indoor plumbing in at least one-quarter of the homes in a country. C. A private water pipe outside everyone's home. D. A protected public water pipe within half a mile of everyone's home.
Which of the following is a test for serial correlation in the error terms?
A. Johansen test B. Dickey Fuller test C. Durbin Watson test D. White test
The long-run supply curve for a competitive, decreasing-cost industry is downward sloping.
Answer the following statement true (T) or false (F)