The principal benefit of unemployment insurance is that it
A. reduces the occurrence of unemployment in the economy.
B. replaces income lost due to unemployment.
C. increases labor force participation.
D. helps reduce the period of unemployment.
Answer: B
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Which of the following products are likely to be complementary goods?
A) Coke and Pepsi B) portable MP3 players and batteries C) HD-DVDs and Blu-Ray DVDs D) Domino's pizza and Papa John's pizza
The term “laissez-faire” was given to a system of free markets by
A. twentieth-century American economists. B. a seventeenth-century Scottish economist. C. eighteenth-century French economists. D. nineteenth-century Italian economists.
Policies that preclude the deliberate creation of monopoly and undesirable practices are called
a. antitrust policies. b. anti-monopoly policies. c. anti-competitive policies. d. socialism.
The Great Depression of the 1930s led to a revolution in macroeconomic thinking, following the work of
a. Arthur Laffer. b. Milton Friedman. c. Adam Smith. d. John Maynard Keynes. e. David Ricardo.