Full employment means
A) zero unemployment.
B) only cyclical unemployment exists.
C) only frictional and structural unemployment exists.
D) None of the above answers are correct.
C
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Which resource earns the highest economic rent as a proportion of total earnings?
a. a resource specialized in one task b. a nonspecialized resource c. a resource with inelastic demand d. a resource in low demand e. a resource with elastic demand
A healthy economy would be characterized by a relatively ____ unemployment rate and a relatively ____ labor force participation rate
a. low; low b. low; high c. high; low d. high; high
The insurance industry is susceptible to adverse selection problems, but not problems of moral hazard.
Answer the following statement true (T) or false (F)
In a tax incentive program, the person who conserves the most pays:
A. relatively more tax. B. relatively less tax. C. no tax. D. no penalties.