Briefly summarize the advantages and disadvantages of unemployment insurance
The main advantage is that unemployment insurance reduces the hardship of losing a job. The main disadvantage is that unemployment insurance increases the amount of unemployment because it reduces the incentives to search for a new job.
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A college education is a(n)
A. investment in human capital. B. form of innovation. C. public good. D. mediated settlement.
Suppose that Japan and India are both engaged in the production of radios and rice, and that Japan has an absolute advantage in the production of both goods. If India has a lower opportunity cost for producing rice, then
A. India has a comparative advantage in the production of rice, but it is outweighed by Japan's absolute advantage in rice production. B. India has a comparative advantage in rice production, but there will be no gains from specialization and trade. C. Japan has a comparative advantage in the production of both goods. D. India has a comparative advantage in the production of rice, and specialization and trade between the two countries can be mutually beneficial.
Economic growth focuses on ________, utility focuses on ________, and the capabilities approach focuses on ________.
A. human development, output, individual pleasure B. human development; individual pleasure; output C. output; human development, individual pleasure D. output; individual pleasure; human development
If you were going to issue bonds, would you prefer to be in a country where the average inflation rate is 3% inflation but fluctuates wildly, or in a country with a higher, 4% expected inflation rate that is stable (meaning it's always 4%). Explain.
What will be an ideal response?