The existence of many discouraged workers in an economy may cause us to
a. overstate the employment rate
b. understate the employment rate
c. overstated the unemployment rate
d. understate the unemployment rate
e. overstate the value of GDP
D
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Suppose you transfer $2,000 from your mutual fund account to your checking account. What is the immediate impact of this transfer on M1 and M2?
What will be an ideal response?
An externality
A) may be positive or negative. B) means a rapidly rising cost borne by consumers. C) is the cost of producing a good outside the United States. D) is the indirect cost, the overhead, of producing a product.
What is the government’s primary method for providing public goods and reducing free riders?
a. Requiring citizens to pay taxes b. Shifting R&D to private firms c. Investing in higher education d. Guaranteeing intellectual property rights
According to the law of demand, all else constant, a rise in price will decrease the demand for a good, and a decrease in price will increase demand for a good
a. True b. False Indicate whether the statement is true or false