Macland’s government passed a law that requires businesses to give a year’s notice to any worker they want to fire and then to pay unemployment benefits for 6 months at the fired worker’s full salary. What will be the effect on the unemployment rate?
a. It will decrease as employers hire fewer workers.
b. It will decrease as more people are willing to work.
c. It will increase as employers hire fewer workers.
d. It will have no effect on the unemployment rate.
c. It will increase as employers hire fewer workers.
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Refer to Table 2.4. Increasing the tanks of fertilizer from 3 to 4 will increase the truckloads of potatoes by
A) 152. B) 35. C) 17. D) 11.
At the quantity of 200 bushels of apples, the marginal social benefit of a bushel of apples is $100 and the marginal social cost is $50. To produce the efficient quantity of apples
A) more apples should be produced. B) fewer apples should be produced. C) there should be no change in the amount of apples produced. D) More information on the willingness of consumers to purchase apples is needed to determine the efficient level of apples.