The major impact unemployment insurance has on the U.S. economy is that it
A. incentivizes people to work.
B. spreads the cost of unemployment.
C. eliminates the social cost of job loss.
D. prevents the emotional impact of job loss.
Answer: B
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Periods of price deflation, such as the Great Depression, are characterized by
A) low nominal rates but high real rates of interest. B) low nominal and real interest rates. C) real rates of interest lower than the nominal rate of interest. D) high nominal and real rates of interest.
The manager of Greene Enterprises, Inc., recently estimated its average variable cost (AVC) function to beAVC = 88 - 0.026Q + 0.000003Q2Greene Enterprises faces total fixed costs (TFC) of $300,000. When Greene's output is 2,000 units, what is average variable cost (AVC)?
A. $20 B. $85 C. $72 D. $62 E. $48