Frictional unemployment is reduced by ________ in the number of weeks one is eligible for unemployment compensation, and ________ in the price of gasoline
A) an increase, an increase
B) an increase, a decrease
C) a decrease, an increase
D) a decrease, a decrease
C
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Other things remaining the same, which of the following is likely to happen if all homemakers in an economy start working as paid labor?
A) There will be a fall in both the wage rate and the employment level. B) There will be an increase in both the wage rate and the employment level. C) There will be an increase in the wage rate in the country and a fall in the employment level. D) There will be a fall in the wage rate in the country and an increase in the employment level.
The reason economists consider monopoly to be socially undesirable is that monopolists:
A. can charge any price they want. B. produce less than the socially optimal level of output. C. earn too much economic profit. D. exploit the inelastic nature of demand.
Pollution is an example of a
A) negative externality B) positive externality. C) private cost. D) public good.
According to the Keynesian view, if policy makers thought the economy was about to fall into a recession, which of the following would be most appropriate?
a. a change in government spending and taxation that will lead to a budget surplus b. a planned increase in the budget deficit c. reducing government expenditures d. balancing the budget