Question

1. Due to the rising cost of a college education, a greater percentage of students have...

1. Due to the rising cost of a college education, a greater percentage of students have part-time jobs in comparison to past years. All else the same, this decrease in the number of full-time students can be expected to ________ the labor force participation rate and ________ the unemployment rate.

increase; have no effect on
decrease; decrease
have no effect on; have no effect on
increase; decrease
increase; increase

2.

Technological advances

always involve buying lots of expensive equipment.
rarely result in an increase in productivity.
introduce new techniques or methods so that firms can produce more with less.
are always the result of private-sector innovation.

are equally common across all firms.

3.

Why do incentives matter to economists?

Governments are the source of all incentives and there is value in studying the actions of government.
Incentives explain how people make decisions, and are the key to understanding economics.
People make poor decisions when they’re given money they didn’t earn.
Incentives are often the guiding principle behind greed and exploitation.
Without incentives, the distinction between microeconomics and macroeconomics would be unclear.

4.

During a recession, a number of workers have their hours reduced by their employers. All else the same, the unemployment rate will ________ and the labor force participation rate will ________.

not change; not change
decrease; not change
decrease; increase
increase; increase

increase; not change

Homework Answers

Answer #1

a) A job is a job it can be part time or full time. it will not have any effect on the labor force participation rate or unemployment rate. the answer is "C".

b) "C"

Technological advances leads to introduction of new techniques that help all the firms in the market.

c) "B"

Incentive help people to make decisions in the market. That is why they are so important for the economists.

d) its just the hour reduced and people have not gone unemployed, It will not change the labor force or unemployment rate. the answer is "A".

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