Economists have suggested that the relatively higher unemployment in Europe has been caused by which of the following?
A) relatively high unemployment benefits
B) relatively high level of worker protection
C) inadequate macroeconomic policies
D) increased labor costs
E) all of the above
E
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In developing countries, there is more reliance on ________ as opposed to ________ for government revenue
A) tariffs; tax collection B) quotas; tariffs C) tax collection; tariffs D) tariffs; quotas
Using the data in the above table, which worker hired at Jefferson's Cleaners is the first to show diminishing marginal returns?
A) the second B) the third C) the fourth D) the fifth
All of the following are considered to be unemployed EXCEPT
A) job leavers. B) discouraged workers. C) job reentrants. D) new job entrants.
Suppose the government has imposed a price ceiling on sliced sandwich bread. Which of the following events could transform the price ceiling from one that is binding to one that is not binding?
a. An increase in the price of flour, which is used to make bread. b. A decrease in the price of lunch meat. c. A decrease in the price of unsliced bread, which people consider a substitute for sliced bread. d. An decrease in the price of peanut butter and jelly.