The owner of a garage makes large contributions to a politician who is seeking the office of state governor. If his candidate wins, he will get the contract, which now resides with a competitor, to repair State Police vehicles. This is an example of
a. moral hazard.
b. externality.
c. rent seeking.
d. investment.
c
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If the number of employed people in a country is 21 million, and the number of unemployed workers in a country is 10 million. The size of the labor force in the country is equal to ________
A) 31 million B) 21 million C) 11 million D) 10 million Consider an economy that consists of the following economic agents only. 2 million full-time workers 1 million part-time workers 1 million people who have been laid off by their employers but are currently looking for employment 1 million children of age fifteen years or less 2 million housewives not looking for jobs
Which one of the following assets has the greater liquidity?
a. A $10 pizza b. A $10 ticket to next week's basketball game c. A $100 stereo d. A dollar bill e. A $200 U.S. savings bond
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
In economics, the function of theories, laws, and hypotheses is to:
A) prevent any misunderstanding of economic behavior. B) divide topics between microeconomics and macroeconomics. C) generate a complete and unchanging description of economic behavior. D) discover relationships between events that are important to economic behavior.