Which of the following will most likely increase the natural rate of unemployment?
a. a decrease in the minimum wage
b. an increase in unemployment benefits
c. an increase in the number of people who stop looking for a job
d. an increase in the proportion of prime-age workers as a share of the labor force
B
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The level of real GDP identified by the long-run aggregate supply curve is
A) the level of GDP at which each industry is experiencing growth in sales. B) the level of GDP at which each business firm is experiencing growth in sales. C) the level of GDP at which no one is below the poverty line. D) the full-employment level of real GDP.
If Paul decides to buy a $60 ticket to a Cirque du Soleil show rather than a $45 ticket for a Blue Man Group performance, we can conclude that
A) the marginal utility per dollar spent on Cirque du Soleil is higher than the marginal utility per dollar spent on Blue Man Group. B) the marginal utility per dollar spent on Cirque du Soleil is lower than the marginal utility per dollar spent on Blue Man Group. C) Paul is not making a rational choice. D) Paul's demand for a ticket to see Cirque du Soleil is more elastic than his demand for a ticket to see Blue Man Group.
Backloaded compensation makes the wage profile increase at a decreasing rate
Indicate whether the statement is true or false
For the economy as a whole, how does income compare to expenditures? Explain