The measured unemployment rate will be understated when
A) unemployed workers become discouraged and drop out of the labor market.
B) unemployed people that are not actively looking for a job are not counted as part of the labor force
C) people pretend to be looking for a job
D) All of these.
A
Economics
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In spring 2008, the U.S. Congress proposed to tax oil companies because of their near-monopoly status. This could have the unintended consequence of
A) increasing the equilibrium price by more than the tax. B) destroying the oil companies and leaving the United States without oil. C) increasing the profit of the best oil company. D) decreasing the power of the U.S. Congress.
Economics
According to economists, which of the following is NOT a factor of production?
A. Land. B. Entrepreneurship. C. Labor. D. Money.
Economics