Why does the Bureau of Labor Statistics make an effort to specify the number of people who have been unemployed for 15 weeks or longer?
a. Only people who have been unemployed for 15 weeks or more are eligible to receive
unemployment benefits.
b. One of the criteria for being considered a marginally attached worker is being
unemployed for 15 weeks or less.
c. Unemployment for several months is much more serious threat to the economy than
unemployment for several weeks.
d. Workers usually stop looking for a job after 15 weeks, so the government begins to
consider them discouraged workers at this point.
c. Unemployment for several months is much more serious threat to the economy than
unemployment for several weeks.
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Each citizen in Nexus City has to pay $20,000 as income tax. This is an example of a ________
A) proportional income tax B) progressive income tax C) lump-sum tax D) regressive income tax
A term to describe one currency in terms of another is
a. Interest rates b. Market price c. Inflation rate d. Exchange rate
Which of the following is the largest component of the assets of the Federal Reserve?
a. U.S. Treasury deposits b. U.S. government securities c. Foreign exchange d. Time deposits e. Checkable deposits
Consider the indifference curve-budget line model of labor supply, and assume consumption and leisure are both normal goods. A higher wage rate would result in
a. more consumption and less leisure. b. a reduction in the worker's marginal value of leisure. c. reduced consumption if the income effect is larger than the substitution effect. d. increased labor only if the substitution effect outweighs the income effect.