Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is
a. True
b. False
Indicate whether the statement is true or false
True
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Explain the Law of Demand
What will be an ideal response?
The IMF's approach to structural adjustment usually
a. placed priority on growth-related investments b. eased conditions by providing subsidies for goods consumed by the poor c. aimed to switch production from goods consumed domestically to goods intended for export d. focused on governments switching expenditure from defense spending to job creation e. all of the above
According to the rational expectations hypothesis, the attempt by the government to reduce unemployment below its natural rate through expansionary policies will
A) succeed in the short run and can succeed in the long run as long as the government makes it clear what its goals are. B) succeed because the government knows how people will react to their policies and will adjust their policies accordingly. C) fail because people will figure out what the government is doing and alter their expectations and their behavior in ways that counteract the government policy. D) fail because the economy can never achieve an unemployment rate below the natural level.
For a profit-maximizing monopolist
A) P > MC. B) P = MC. C) P = MR. D) P = ATC.