The New York Times reported in November 2008 that 240,000 additional people lost their jobs which increased the unemployment rate to 6.5 percent
In addition, it was noted that a large number of college graduates were "taking jobs that do not require a college degree." It was also expected that "teens will be thrown out of the labor market....causing youths to miss experience" that could help them prepare for higher-skilled jobs. The article reflects the idea that unemployment is a problem because it results in A) a loss of human capital.
B) fewer discouraged workers.
C) a loss of income.
D) a decrease in the labor force.
A
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If the opportunity cost of working outside the home decreases then it is likely that ________, assuming all else equal
A) there will be a rightward shift in the labor supply curve B) there will be an upward movement along the labor supply curve C) there will be a downward movement along the labor supply curve D) there will be a leftward shift in the labor supply curve
In the short-run macro model, which of the following increases when government spending increases?
a. The interest rate b. Investment spending c. Taxes d. Spending on consumer durables e. The money supply
When market activity generates a negative externality, the level of output in the market equilibrium is lower than the socially optimal level
a. True b. False Indicate whether the statement is true or false
Suppose the price elasticity of supply for soccer balls is 0.3 in the short run and 1.2 in the long run. If an increase in the demand for soccer balls causes the price of soccer balls to increase by 20%, then the quantity supplied of soccer balls will increase by about
a. 0.67% in the short run and 0.17% in the long run. b. 3% in the short run and 1.2% in the long run. c. 6% in the short run and 24% in the long run. d. 66.7% in the short run and 16.7% in the long run.