Same anwers in the first blank space The iron triangle means there are inevitable trade-offs between the three key aims of welfare policy.Complete the sentences below which describe this policy trilemma using phrases from the drop downlists next to each gap. You may use each phrase more than once.Cutting benefits available to the unemployed will helpbut will not help improve incentives to take employmentReducing the basic rate ofincome tax will help raise the living standards of the poorest households✓but will not helpimprove incentives to take employment and save money immediately on the government's budgetraise the living standards of the poorest households and improve incentives to take employmentraise the living standards of the poorest households and save money immediately on the government's budget

During the policy-making process, an iron triangle is a concept used to characterize the interaction…

The iron triangle means there are inevitable trade-offs between the three key aims of welfare policy. Complete the sentences below which describe this policy trilemma using phrases from the drop down lists next to each gap. You may use each phrase more than once. Cutting benefits available to the unemployed will help but will not help improve incentives to take employment . Reducing the basic rate of ✓but will not help income tax will help raise the living standards of the poorest households improve incentives to take employment and save money immediately on the government's budget raise the living standards of the poorest households and improve incentives to take employment raise the living standards of the poorest households and save money immediately on the government's budget

The iron triangle means there are inevitable trade-offs between the three key aims of welfare policy. Complete the sentences below which describe this policy trilemma using phrases from the drop down lists next to each gap. You may use each phrase more than once. Cutting benefits available to the unemployed will help but will not help improve incentives to take employment . Reducing the basic rate of ✓but will not help income tax will help raise the living standards of the poorest households improve incentives to take employment and save money immediately on the government's budget raise the living standards of the poorest households and improve incentives to take employment raise the living standards of the poorest households and save money immediately on the government's budget

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 7P

See similar textbooks

Similar questions

Read the following and answer question?New York State's updated partial unemployment system now in effectThe changes are meant for people who lost full-time work and are now working part time, 30 hours or fewer a week, and making $504 or less per week. Sunday was the first day to certify for benefits under New York State's updated partial unemployment system. The state is now using hours worked to determine how much money is paid out. It's meant for people who lost full-time work and are now working part-time, 30 hours or fewer a week and making $504 or less per week…If you worked zero to 10 hours, your unemployment will not be reduced, over 31 hours and you will not receive benefits. The cost to the New York state demonstrated in the article is the…a) Social costb) Economic costc) Political costd) Distribution cost
Read the following and answer question?New York State's updated partial unemployment system now in effectThe changes are meant for people who lost full-time work and are now working part time, 30 hours or fewer a week, and making $504 or less per week. Sunday was the first day to certify for benefits under New York State's updated partial unemployment system. The state is now using hours worked to determine how much money is paid out. It's meant for people who lost full-time work and are now working part-time, 30 hours or fewer a week and making $504 or less per week…If you worked zero to 10 hours, your unemployment will not be reduced, over 31 hours and you will not receive benefits. The type of unemployment being addressed n the above intervention is...a) Cyclical unemploymentb) Seasonal unemploymentc) Hidden unemploymentd) Frictional unemployment 1.15 The cost to the New York state demonstrated in the article is the… a) Social costb) Economic costc) Political costd) Distribution…
When unemployment exists in the supply and demand labor market model, there is an adjustment that brings the model back into equilibrium—back to full employment. Orthodox economists cite two mechanisms that cause the adjustment. Explain each of these.
Give the equation used to calculate the unemployment rate. State the different types ofunemployment. In your opinion, which type is the most problematic one? Justify your answer.
Evaluate how each of the following individuals would be affected by unanticipated inflation: (a) the government
Read the following extract and answer questions 1. and 2. Pay rises offered despite Bank of England plea for restraint over inflationEmployers are set to increase wages at their fastest pace in almost a decade this year despite a plea for pay restraint from the governor of the Bank of England.Some 46 per cent of companies struggling to keep hold of workers have already raised the pay of incumbent staff, according to research, and 40 per cent are planning to do so in future. 1. Which of the following macroeconomic objectives is being pursued by the Bank of England? a) Price stabilityb) Full employmentc) Economic growthd) Wage rate stability 2. As companies in England increase wages, the greatest impact on economic growth will be on which of the following sources of growth? a) Labour supplyb) Human capitalc) Productivityd) Capital stock
Why is the optimal rate of unemployment, from an economic perspective, never zero?Explain.
How can seasonal unemployment be alleviated? Should it be alleviated? Why or why not?
Those who classify themselves as underemployed are included in the unemployment rate. Select the correct answer below: O True O False
Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania willdecrease . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, willincrease . The temporary unemployment resulting from such sectoral shifts in the economy is best described asfrictional unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply.
Consider an economy with U unemployed people, N employed people and O people not in the labor force. In a given period, a share f of the employed get fired, a share h of the unemployed get hired and become employed, a share d of the unemployed gets discouraged and drops out of the labor force and a share j of the those outside the labor force start looking for a job and become unemployed. Nobody from outside the labor force gets hired directly into a job, nor does anybody who quits employment immediately drop out of the labor force. 1. Draw the stocks of different pools of the population and the flows between them in a convenient diagram.
The Federal Reserve Bank of Atlanta releases its monthly Wage Growth Tracker to study trends in wages across various industries. One interesting issue is whether wages rise faster for those who stay in their current jobs (job stayers) or those who seek new opportunities (job switchers). According to the data, job stayers tend to do better than job switchers during a recession. But when the labor market is strong, job switchers experience higher wage growth than job stayers. a. During a recession, job stayers do better than job switchers because a.labor demand increases and job switchers can find jobs with higher wages. b.labor supply decreases and job switchers can find jobs with higher wages. c.labor demand decreases and job switchers cannot find jobs with higher wages. b. When the labor market is strong, job switchers experience higher wages than job stayers because a.labor demand decreases and job switchers cannot find jobs with higher wages. b.labor supply…