Author Question: Which of the following is TRUE of unemployment? A) It is defined as the number of people actively ... (Read 80 times)

Awilson837 · **on:** Jun 29, 2018

Which of the following is TRUE of unemployment?

A) It is defined as the number of people actively looking for work who do not have jobs.
B) The result is that the economy operates inside its production possibilities curve.
C) There are psychological consequences associated with unemployment.
D) All of the above.

Question 2

Suppose that in the economy of Springfield, USA, Homer, who has an income of 50,000, pays 10,000 in taxes. Edna, who has an income of 35,000, pays 9,000 in taxes. Based on this information, we could say that Springfield's tax system is

A) proportional.
B) progressive.
C) regressive.
D) flat.