Unemployment compensation is an example of
A) a subsidized service.
B) a regressive income program.
C) a Social Security benefit.
D) an income maintenance program.
D
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The share of GDP taken by taxes has increased dramatically since the 1960s.
Answer the following statement true (T) or false (F)
Paul and David work for the same company and have the same job title, education, work experience, and are equally skilled at what they do. Paul works the night shift and is paid $60,000 a year, while David works a regular day shift and is paid $55,000 a year. Which of the following is the best explanation for why Paul earns more than David? a Paul has more human capital than David. b David has more human capital than Paul. c Paul has received a compensating differential. d Aside from pay, the night shift is more desirable than the day shift.
a. Paul has more human capital than David.
b. David has more human capital than Paul.
c. Paul has received a compensating differential.
d. Aside from pay, the night shift is more desirable than the day shift.
An equation that captures how inputs of production are related to output is called a:
A. GDP deflator. B. consumption function. C. production function. D. saving function
Frictional unemployment would increase when
A. the number of individuals who quit one job to find another increases. B. discouraged workers drop out of the work force. C. migrant workers are unemployed after harvest season. D. workers are replaced by machines in production.