Studies have shown that the design of the unemployment insurance system reduces the job search effort of the unemployed
a. True
b. False
Indicate whether the statement is true or false
True
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When the percentage change in the quantity demanded equals the percentage change in price, then demand is
A) inelastic. B) unit elastic. C) elastic. D) irrelevant. E) undefined.
A consequence of an incentive contract for employees is that
a. employees must incur additional risk b. employee level risk is reduced c. employer level risk is reduced d. there are no risk related consequences
The rationale behind patents is that if inventors and artists cannot secure the returns from successful projects, fewer new inventions and works of art will be produced
Indicate whether the statement is true or false
An increase in government spending will increase the government budget deficit, which tends to increase interest rates, increase saving, crowd out private investment, stimulate capital formation, and slow the level of economic activity
a. True b. False