Discuss the likely impact of each of the following on the unemployment rate and on the natural rate of unemployment.:
a. The length of time workers are eligible to receive unemployment benefits is extended by 26 weeks.
b. The government passes a law which increases the age of eligibility to collect Social Security benefits.
c. The government decides to increase access to Social Security disability benefits.
a. The unemployment rate will likely increase, since this will decrease the opportunity cost of finding a job. Frictional unemployment will likely increase, which will increase the natural rate of unemployment.
b. The unemployment rate will likely increase as more people will remain in the labor force. This has the potential of increasing structural and frictional unemployment, which would cause the natural rate of unemployment to increase.
c. The unemployment rate will likely decrease as more workers access the disability benefits and leave the labor force. This will likely reduce structural unemployment, which would cause the natural rate of unemployment to decrease.
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Anthropogenic pollutants
a. arise from natural processes in nature, like particles from volcanic eruptions b. are contaminants linked to human activity c. are those released only from nonpoint sources d. are of minimal concern to environmental economists
The First Welfare Theorem holds that the allocation of goods resulting from competitive prices is "efficient," which is the equivalent of "equitable."
Answer the following statement true (T) or false (F)
Asymmetric information arises when:
a. both the parties to an exchange have perfect information about the good. b. none of the parties to exchange have any information about the good. c. one party to an exchange knows more than the other party. d. a good is provided by the government. e. the market is perfectly competitive.
Union representatives negotiate with employers to establish wage rates and working conditions that ______.
a. ensure the firm is more profitable than its competitors b. put the needs of the employees ahead of profits c. are in sync with global rates of pay and performance d. balance the interests of the workers and the firm