The best example of a "frictionally unemployed" worker is one who:
A. Reduces productivity by causing friction in a business
B. Is laid off during a recessionary period in the economy
C. Is in the process of voluntarily switching jobs
D. Is discouraged and not actively seeking work
C. Is in the process of voluntarily switching jobs
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Pollution occurs when lumber is produced. If the lumber market is unregulated, there would be
A) overproduction of lumber compared to the efficient amount. B) underproduction of lumber compared to the efficient amount. C) sometimes overproduction and sometimes underproduction of lumber compared to the efficient amount. D) an external benefit to producing lumber.
Which of the following is included in GDP?
a. life expectancy b. literacy c. health d. infant mortality
Generally, on a linear two-good production possibilities curve, the opportunity cost of the good measured on the vertical axis is:
A. the reciprocal of the opportunity cost of the good measured on the horizontal axis. B. one minus the opportunity cost of the good measured on the horizontal axis. C. the negative of the opportunity cost of the good measured on the horizontal axis. D. the absolute value of the slope of the production possibilities curve.
In the ultimatum game, when the allocator and the recipient care about fairness, how is the distribution of $20.00 affected?
a. Allocators receive everything, and recipients receive nothing. b. Recipients usually reject offers of less than a 10 percent share. c. Allocators usually offer recipients a very small share. d. Allocators and recipients always end up sharing the $20.00 equally.