One of the shortcomings of the government's method of measuring unemployment tends to make the official unemployment rate an overestimate of the unemployment problem:
A) people working less than twenty hours a week are counted as unemployed.
B) people seeking part-time jobs are counted as fully unemployed.
C) people who have given up looking for work are counted as fully unemployed.
D) "discouraged workers" aren't counted as unemployed.
B
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An inflation-prone country
A) gains from vesting its monetary policy decisions with a "conservative" central bank. B) loses from vesting its monetary policy decisions with a "conservative" central bank. C) gains from vesting its fiscal policy decisions with a "conservative" central bank. D) loses from vesting its fiscal policy decisions with a "conservative" central bank. E) remains constant when vesting its fiscal policy decisions with a "conservative" central bank.
If the price of good X (measured on the horizontal axis of a budget line diagram) increases at the same time that the price of good Y (measured on the vertical axis) increases, the budget line
a. will necessarily become steeper b. will necessarily become flatter c. will remain unchanged d. will shift outward in a parallel fashion e. could become either steeper or flatter, depending on the sizes of the price changes
In economics, "demand" refers to
A. what people need instead of want without paying for it. B. the satisfaction a good will provide a person. C. the minimum amount of a good people need to survive. D. how much of a good people will buy at any price during a given time period.
The average tax rate can be calculated by which of the following formulas?
A. total taxable income divided by total taxes due B. total taxes due divided by total taxable income C. the change in taxes due divided by the change in taxable income D. the change in taxable income divided by the change in taxes due