A public good is a good that:
A. is excludable.
B. is rival.
C. is free.
D. is available regardless of willingness to pay.
Answer: D
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Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to overstate the true extent of joblessness?
A) inflation B) discouraged workers C) unemployed persons falsely report themselves to be actively looking for a job D) counting people as employed who are working part time, although they would prefer to be working full time
The three major categories of resources are
a. human resources, physical resources, and natural resources. b. scarce resources, capital resources, and abundant resources. c. financial resources, global resources, and local resources. d. common resources, private resources, and capital resources.
Higher levels of human capital are correlated with higher earnings because firms are willing to pay more for better-educated workers who have higher marginal productivities
a. True b. False Indicate whether the statement is true or false
Changes in government spending
A. are an indirect component of the expenditures schedule. B. have a different multiplier effect than changes in business investment spending. C. are a direct component of the expenditures schedule and have the same multiplier effect as changes in business investment spending. D. do not have an effect on spending if they are matched by tax changes.