Name the three types of unemployment.
What will be an ideal response?
cyclical, frictional and structural
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In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $6 per hour will initially
A) increase employment from 20 to 40 million hours per year. B) increase employment from 30 to 40 million hours per year. C) decrease employment from 40 to 20 million hours per year. D) decrease employment from 30 to 20 million hours per year.
Suppose there is a policy debate regarding the United States’ imposing trade restrictions on imported tires.
A congresswoman from a state with several tire factories argues that the United States should threaten to impose a tariff on Chinese tires in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the congresswoman using to argue for the trade restriction on tires? a. Infant-industry argument b. Jobs argument c. National-security argument d. Using-protection-as-a-bargaining-chip argument e. Unfair-competition argument
In 2000, the United Nations unanimously adopted the ________, a set of quantifiable, time-based targets for developing countries to meet.
A. Millennium Development Goals B. Carbon Footprint Eradication Measure C. Global Warming Reduction Act D. 21st Century Equity Initiative
In the case of extraction of a nonrenewable resource, when user costs decrease, then it implies that expected future profits:
A. Decrease, while the amount of current extraction increases B. Decrease, and the amount of current extraction decreases C. Increase, and the amount of current extraction increases D. Increase, while the amount of current extraction decreases