A political opponent argues that unemployment insurance is bad for the economy. How would you counter this argument to show that unemployment insurance is actually good for the economy?
What will be an ideal response?
Answers to this question will vary but should note several ways in which
unemployment insurance benefits the economy. For example, unemployment insurance
reduces the severity of a recession by allowing unemployed workers to maintain some
income and spending. Their spending is good for the economy and may help reduce
unemployment by allowing companies to continue to produce goods and services
during economic hard times. Unemployment insurance also allows workers to find the
right skills match rather than taking the first job that comes along, which raises
economic productivity in the long term. It also reduces income uncertainty, which is
important to keep the economy running at a high level.
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When economists use market values to aggregate output, they sum the:
A. number of items produced. B. quantity of items produced. C. inputs of each item produced. D. price times the quantity of each item produced.
In the short run, the Phillips Curve indicates a(n):
a. inverse relationship between inflation and unemployment. b. direct relationship between inflation and unemployment. c. inverse relationship between GDP and unemployment d. direct relationship between GDP and unemployment.
Economist who study the role of government in the market
Refer to the information provided in Figure 9.3 below to answer the question(s) that follow. 
Figure 9.3Refer to Figure 9.3. This firm's short-run supply curve is the firm?s
A. marginal cost curve above Point D. B. AVC curve to the right of Point B. C. marginal cost curve above Point B. D. marginal cost curve above Point A.