A trade deficit occurs when:
A. government revenue exceeds government spending.
B. exports are less than imports.
C. exports exceed imports.
D. government spending exceeds government revenue.
Answer: B
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When cyclical unemployment increases and other things remain the same, ________
A) the natural unemployment rate increases B) the amount of frictional unemployment increases C) the amount of structural unemployment decreases D) the natural unemployment rate does not change
Keynes was concerned about an implication of his consumption theory: that as an economy becomes more prosperous, its saving rate becomes too ________ to sustain that prosperity. Such a long-term trend in the U.S
saving rate is ________ in the time-series data. A) large, found B) large, not found C) small, found D) small, not found
When taxes are decreased, disposable income increases even though GDP is unchanged
a. True b. False Indicate whether the statement is true or false
The invisible hand is a notion from:
a. Marx b. Ricardo c. Keynes d. Mises e. none of the above