Suppose there are a large number of men who used to work or seek work who now no longer do either. Other things the same, this makes
a. the number of people unemployed rise but does not change the labor force.
b. the number of people unemployed rise but makes the labor force fall.
c. both the number of people unemployed and the labor force fall.
d. the number of people unemployed fall but does not change the labor force.
c
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List the five approaches used to solve the problem of externalities
What will be an ideal response?
In the presence of pollution, social welfare is maximized by
A) reducing output and pollution until marginal benefit of less pollution is equal to the marginal cost of less output. B) reducing output and pollution until the benefit curve (of less pollution) and cost curve (of less output) intersect. C) reducing output and pollution until the benefits of pollution reduction just cover the costs of output reduction. D) None of the above.