When the economy goes into a recession, there's an increase in
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) voluntary unemployment.
C
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The figure above shows the market for low-skilled labor in Midland city. The government sets a minimum wage at $6 per hour. The minimum wage ________ the employers' surplus by ________ million per year
A) decreases; $60 B) decreases; $120 C) increases; $40 D) increases; $100
An increase in the U.S. interest rate
a. raises the opportunity cost of holding dollars. b. induces households to increase consumption. c. shifts money demand to the right. d. leads to a depreciation of the U.S. dollar.
Which of the following is true?
A) In the long run, corporate bonds can be expected to yield a higher real rate of return than ownership of stocks. B) The risk of stock market investments can be reduced through the holding of a diverse portfolio of unrelated stocks over long periods of time. C) Stock market investors can reduce their risk if they hold shares of specific stocks for only short periods of time. D) People who invest in the stock market are virtually certain to make money.
Prior to World War II most consumers in the United States:
A. paid for catastrophic illness out of their own pockets but owned medical insurance for routine medical care. B. had no medical insurance of any type. C. owned medical insurance for catastrophic illness but paid for routine medical care out of their own pockets. D. owned medical insurance covering both catastrophic illness and routine medical care.