A person may be described as belonging to the set of counterfeit unemployment if he or she
a. quits working because of a variety of excuses such as "unbearable office politics" or"difficulty to work in that environment."
b. becomes discouraged after many attempts to find work
c. is actually working but that work is unreported so that the person can getunemployment insurance
d. substitutes a family member to work for him or her, typically a woman substitutingfor a stay-at-home man
e. is working but at a job demanding considerably less than the person's talents
A
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In the two-period model with asymmetric information, a bank
A) creates money. B) keeps money safely. C) multiplies reserves. D) borrows and lends.
Interest income is
a. the largest component of national income b. interest received by individuals for providing capital to the resource market c. the most stable component of national income d. capital e. part of the expenditure approach to GDP accounting
Suppose lawn mowers are part of the market basket used to compute the CPI. Suppose also that the quality of lawn mowers deteriorates while the price of lawn mowers stays the same. If the Bureau of Labor Statistics is able to precisely adjust the CPI for the improvement in quality, then, other things equal,
a. the CPI will rise. b. the CPI will fall. c. the CPI will stay the same. d. lawn mowers will no longer be included in the market basket.
Who gains surplus when consumers in a market are given a Pigouvian subsidy for a positive externality?
A. Others affected by the externality B. Both consumers and producers gain surplus. C. Producers D. Consumers