Tyler was fired when a machine took over his duties. He is so frustrated that he has decided to wait a few months before looking for a job. What type of unemployment is he?
a. frictional
b. natural
c. not unemployed
d. structural
Ans: c. not unemployed
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Which of the following was an element of the New Deal?
A. Wage and price controls B. Unemployment insurance and bank deposit insurance C. Regulation of the stock market D. Unemployment insurance, bank deposit insurance, and regulation of the stock market, but not wage and price controls
In the absence of borrowing constraints, then beginning at age 18, the individual should consume
Consider an individual who enters adulthood and the labor force at age 18, expects to work 5 years at a real income of $10,000 per year, anticipates earning a real income of $40,000 per year from age 23 to 63, expects to retire with a $10,000 annual pension, and live until age 78. Suppose the interest rate is zero, and the individual seeks perfectly smooth consumption across his adult lifetime. a) all of his income as he receives it each year b) $10,000 every year c) $20,000 every year d) $30,000 every year e) $25,000 every year
Without regulations, monopolists will produce at an output level where marginal benefit is greater than marginal social cost.
Answer the following statement true (T) or false (F)
When the tax rates imposed on the rich are high, a reduction in these rates
a. will always lead to a reduction in the tax revenue collected from the rich. b. will not affect the tax revenue collected from the rich. c. will increase the reported incomes of the rich and it may also lead to an increase in tax revenue collected from them. d. will decrease the reported incomes of the rich, and thereby reduce the tax revenue collected from them.