Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. A shift from ppf1 to ppf2 may be caused by
A. an increased desire for consumer goods.
B. a change in consumer tastes.
C. an improvement in technology.
D. an increase in inflation.
Answer: C
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The government of Eduland provided generous unemployment benefits to all the unemployed workers. However, the new government that came into power reduced the amount of unemployment insurance paid to each worker
This increased the average number of hours spent daily by unemployed workers in looking for jobs. This suggests that ________ exists in the labor market in Eduland. A) the problem of moral hazard B) a tragedy of the commons C) a pecuniary externality D) a positive externality
If expectations are formed rationally and wages are flexible, the aggregate supply curve is
A) upward sloping. B) horizontal. C) vertical. D) relatively flat.