Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe that there? aren't any jobs available. You would be counted as
What will be an ideal response?
a discouraged worker
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Did Mother Teresa create positive externalities when she helped the poor of Calcutta?
A) No, because the poor continued to exist and her efforts were largely unsuccessful. B) No, because she fully calculated all the benefits of her activities. C) Yes, because her activities have inspired and benefited countless others whom Mother Teresa could not have known about or taken into account. D) Yes, because her activities had nothing to do with the search for economic profit.
In a closed economy, private saving is equal to which of the following? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y + TR - C - T B) Y - C - T C) Y - G - T + TR D) Y - G - T
The political process is more likely to serve the interests of individuals whose preferences are in the middle, rather than individuals with preferences that are much to the left or right of the political center
This statement is best explained by which of the following? A) logrolling B) the Arrow impossibility theorem C) the voting paradox D) the median voter theorem
If a positive externality exists, __________ in order for the socially optimal output to be reached.
A. supply needs to decrease B. demand needs to increase C. demand needs to decrease D. a and c E. none of the above