The unemployment rate measures the percentage of discouraged workers in the labor force
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. What is the efficient quantity of steel?
A) 0 tons B) 2 tons C) 4 tons D) 8 tons
If a firm goes bankrupt, the bondholders will get paid back before the stockholders get any money.
Answer the following statement true (T) or false (F)
Some economists criticize the Lorenz curve because it
A) includes too many things in measuring income, such as food stamps, housing aid, and other government programs. B) does not account for the effect of age on a family's income. C) measures unreported income earned in the underground economy. D) uses after-tax income when pre-tax income is more appropriate.
There is a possibility that a national sales tax will be implemented. Many economists argue that items such as food and clothing should be exempt from such a tax because low-income people spend a greater percentage of their income on these goods than do high-income individuals. This argument is motivated by concerns over
A. efficiency. B. economic growth. C. economic stability. D. equity.