A college graduate using the summer following graduation to search for a job would best be classified as:
A. not officially a member of the labor force.
B. a part of structural unemployment.
C. a part of cyclical unemployment.
D. a part of frictional unemployment.
D. a part of frictional unemployment.
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Moral hazard is an important concern of insurance arrangements because the existence of insurance
A) provides increased incentives for risk taking. B) is a hindrance to efficient risk taking. C) causes the private cost of the insured activity to increase. D) creates an adverse selection problem but no moral hazard problem.
When a tax is levied on buyers of tea,
a. buyers of tea and sellers of tea both are made worse off. b. buyers of tea are made worse off, and the well-being of sellers is unaffected. c. buyers of tea are made worse off, and sellers of tea are made better off. d. the well-being of both buyers of tea and sellers of tea is unaffected.
The model of the market for loanable funds shows that an investment tax credit will cause interest rates to rise and investment to rise. Yet we also suppose that higher interest rates lead to lower investment. How can these two conclusions be reconciled?
Suppose you own $15,000 of personal property, $5,000 of stock in ABC Corporation, a $1,000 certificate of deposit, and $10,000 of government bonds. If ABC goes bankrupt, the most you could lose is
A) $31,000. B) $26,000. C) $15,000. D) $5,000.