When there is an increase in the duration of unemployment, the U.S. Congress typically responds by
A. lowering income taxes.
B. extending unemployment benefits.
C. redefining "unemployed" so the unemployment rate does not look so bad.
D. encouraging unemployed U.S. workers to seek employment overseas.
Answer: B
Economics
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Betsy's utility depending from her consumption of coffee is shown in the table above. If the price of a cup of coffee is $2, Betsy's marginal utility per dollar from the 2nd cup of coffee per day is
A) 15. B) 40. C) 20. D) 32.5.
Economics
Bob and Bill can make 16 toys each if they devote 8 working hours in a day. Further, Bob can repair 4 cars and Bill can repair 2 cars, if they devote 8 working hours in a day. What is the opportunity cost of repairing one car to Bill?
a. 10 toys b. 8 toys c. 16 toys d. 12 toys e. 4 toys
Economics