Unemployment insurance is:
A. offered by the government as a way to affect the level of seasonal unemployment.
B. money that is paid by the government to people who are unemployed.
C. offered by the government as a way to affect the level of cyclical unemployment.
D. money that is paid to the government by employers who lay off employees.
Answer: B
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Under a flexible exchange rate system an increase in the value of a currency relative to other currencies is a called a ________ and under a fixed exchange rate system an increase in the official value of a currency is called a ________.
A. depreciation; devaluation B. depreciation; appreciation C. appreciation; revaluation D. revaluation; appreciation
Many residents of the city of Adelphia drive without automobile insurance. Assuming that Adelphia is just like any other city and these are risk averse individuals, which of the following is most likely TRUE?
A) Economic models do not work. B) These people maximize wealth. C) The price of automobile insurance exceeds their maximum value of insurance. D) There are no automobile accidents or thefts in the city of Adelphia.
Adopt incentive compensation
a. Under all circumstances since it is the best solution b. Only if it is effective in making the agent work harder c. Only if its results exceed its costs d. Only B&C
Exhibit 2-2 Production possibilities curve
In Exhibit 2-2, the slope of the production possibilities curve indicates that the opportunity cost of:
A. coffee is constant. B. coffee is increasing. C. coffee is decreasing. D. corn is increasing.