How will the crisis affect the natural rate of unemployment?
What will be an ideal response?
There is an increasing worry that the increase in the actual unemployment rate may eventually translate into an increase in the natural unemployment rate. Workers who have been unemployed for a long time may lose their skills, or their morale, and become unemployable, leading to a higher natural rate.
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Susan is trying to decide whether to quit her $20,000 per year job so she can return to college next year as a full time student. If she goes to college next year, her books and supplies will cost $500, tuition will cost $3,000, and her other expenses (transportation, housing, and food) will increase by $2,000. What is Susan's opportunity cost of attending college next year?
A) $5,500 B) $3,000 C) $25,500 D) $3,500
The marginal cost of producing 25 units of a public good is $100. There are two individuals in the society. Person A is willing to pay $40 for 25 units of the public good. If 25 units of the public good are provided, then Person B must be willing to pay
A. $0. B. $40. C. $60. D. $75.