In a dynamic economy under ideal conditions:
a. the unemployment rate should be near zero.
b. some unemployment would be present due to workers temporarily being out of work while changing jobs.
c. unemployment would tend to move upward slightly as prices increased.
d. unemployment would tend to move slightly downward as unemployment compensation benefits increased.
b
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The earned income tax credit (EITC) has been a successful anti-poverty policy by encouraging participation in the workforce.
Answer the following statement true (T) or false (F)
If U.S. consumers increase their spending on electric cars by 100 percent, and 100 percent more electric cars are produced, this is known as the
A) majority rule. B) proportional rule. C) government rule. D) profit rule.
People scalping tickets for a jazz festival will be successful at selling the tickets for a profit
A. any time the jazz festival is popular. B. when prices are too high. C. when the price set by the festival organizers is less than the market equilibrium price. D. only when there is excess supply.
Which of the following is likely to happen if the government lowers its expenditure?
A) Unemployment will increase. B) Consumption will increase. C) Price level will rise. D) Investment will increase.