People who are not currently employed but say they want a job are counted as unemployed only if they:
a. have previously held a job
b. are actively seeking employment.
c. are discouraged workers.
d. are between 16 and 65 years of age.
e. are willing to accept any offer of employment.
b
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Market systems are often referred to as "automatic" or "self-regulating" because they function
A) effectively even when no participant in the system plans ahead. B) effectively in the absence of any laws. C) effectively even when the society is breaking down. D) without an overall, comprehensive plan. E) without the intervention of human beings.
Some politicians have recently suggested changing the income tax system in the U.S. to a flat tax system where all taxpayers would pay the same percentage of their income in tax to the federal government
Explain how such a change can be analyzed in terms of efficiency. Do you believe that this tax will have equity effects as well?
When a supplier becomes more profitable
a. there is increased benefits from acquiring it b. the benefits from a stronger firm-to-firm relationship are increased c. the benefits from a stronger firm-to-firm relationship are decreased d. there is no additional reason to acquire it
Which of the following assumptions is(are) NOT made in consumer behavior theory?
A. Consumers have complete information. B. Consumers can rank all bundles of goods. C. Consumers can measure the utility they get from all bundles of goods. D. both a and b E. None of the above are assumptions made in consumer behavior theory.