The main reason economists are concerned about the problem of idle or unemployed resources is that:
a. high rates of crime are related to high rates of unemployment
b. high rates of inflation are caused by idle land, labor, and capital resources.
c. government benefits paid to unemployed workers put stress on the federal budget.
d. unemployed resources mean less production and a lower standard of living for the nation.
d
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The demand for money curve
A) shows the relationship between money demanded and open market operations. B) shows the relationship between the quantity of money balances demanded and the interest rate. C) is positively related to the interest rate. D) varies inversely with the supply of money.
The differences between a competitive market and a monopoly include all of these except:
a. excess profits would be competed away in a competitive market, but persist in a monopolistic market b. a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise short term prices c. a competitive market's cost curves will shift with the market, while a monopoly's cost curves will remain stable d. a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise long term prices