The non-activists believe that
A) the government has been a stabilizing force in the economy.
B) much of the existing unemployment voluntary.
C) the velocity of money is unstable.
D) policymakers are able to accurately forecast the future effect of current policy actions.
B
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When production generates a negative externality, the true cost of production is the ________ cost of production
A) private B) external C) social D) average
A market basket:
A. looks like a really long shopping list for what firm’s typically purchase. B. includes specific goods and services in fixed quantities that roughly correspond to a typical consumer's spending. C. onlyincludes housing, food, and clothing, but not things like transportation. D. is what an economist creates in order to understand purchasing trends of households and firms.
If the U.S. economy grew rapidly in the future, would this eliminate the long run deficit of Social Security?
a. No; future Social Security benefits are tied to nominal wages and therefore increases in real incomes will also increase the future retirement benefits. b. Yes; a rapid real growth rate would increase tax revenues without increasing the real benefit levels of future recipients. c. Yes, more rapid growth would lead to inflation and this would help eliminate the system's long run deficit. d. Yes, but only if the rapid growth led to a substantial increase in net exports.
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Joe's opportunity cost of selling a truck is selling:
A. 4 cars. B. 1/3 of a car. C. 1 car. D. 9 cars.