By offering training to workers whose firms laid them off because of competition from foreign firms, the federal government is attempting to reduce
A) frictional unemployment.
B) structural unemployment.
C) cyclical unemployment.
D) seasonal unemployment.
Answer: B
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A government proposal to increase marginal tax rates on the wealthiest 2 percent of U.S. residents is supposed to generate an additional $100 billion in tax revenues. It is likely that
A) the actual revenue raised will exceed the $100 billion, because the other 98 percent of the population will increase their work effort with a more fair tax system. B) the actual revenue raised will be more than $100 billion, because the short-run aggregate supply curve is upward sloping. C) the actual revenue raised will be close to $100 billion, because the wealthy don't respond to work incentives the way poorer workers do. D) the actual revenue raised will be less than $100 billion, because some of the people will respond by working less and earning less income that can be taxed.
The nation, as a whole, is hurt by inflation if it:
a. Is expected. b. Reduces productivity. c. Changes consumers' preferences for durable versus non-durable goods. d. Rises at a rate that is greater than real GDP. e. All the above are true.
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and reserves account in the context of the Three-Sector-Model? a. The GDP Price Index falls and reserves account becomes more positive (or less negative)
b. The GDP Price Index falls and reserves account remains the same. c. The GDP Price Index and reserves account remain the same. d. The GDP Price Index rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
(Consider This) Subsidies for mohair production illustrate:
A. why special-interest effects are often characterized by concentrated benefits and diffuse costs. B. why special-interest effects are often characterized by concentrated costs and diffuse benefits. C. that larger groups carry greater political weight than smaller groups. D. the moral hazard problem.