Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) increase. B) remain constant.
C) decrease. D) not change in a way that can be predicted.
B
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In the United States, monetary policy is determined by
A) the Federal Reserve. B) the president. C) private citizens. D) the Treasury Department.
Based on the graph showing the effective federal funds rate, the downturn in interest rates after the 2001 recession lasted ______.
a. a shorter time than most downturns
b. a longer time than most downturns
c. about the same time as most downturns
d. five years longer than any previous downturn
If the cross-price elasticity of two goods is 0.25, then we know that these goods are:
A. substitutes because their cross-price elasticity is greater than zero. B. substitutes because their cross-price elasticity is less than 1. C. complements because their cross-price elasticity is greater than zero. D. complements because their cross-price elasticity is less than 1.
Asarta Inc. is polluting into a nearby fishing stream; doing so benefits them $40,000 a year. The fishermen are unhappy as their trout are dying off. Typically, the fishermen can catch trout and sell it to a local market where they can earn about $8,000 a year. Currently, Asarta Inc. has the rights to use the stream as they see fit. Which of the following is an optimal solution according to the Coase Theorem?
A. Asarta Inc. could pay the fishermen $7,000 and keep polluting B. The fishermen could pay Asarta Inc. $4,000 to stop them from polluting C. Asarta Inc. could pay the fishermen $8,500 and keep polluting D. There is no optimal solution given the current property rights