If the economy has a cyclically adjusted budget surplus, this means that:
A. the public sector is exerting an expansionary impact on the economy.
B. tax revenues would exceed government expenditures if full employment were achieved.
C. the actual budget is necessarily also in surplus.
D. the economy is actually operating at full employment.
B. tax revenues would exceed government expenditures if full employment were achieved.
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Explain the relationship between the minimum wage and the unemployment rate for teenagers
Individuals play ____ in causing pollution
a. almost no role b. a large but decreasing role c. a major role d. a reconstructive role
According to Figure 6.1:
A. soup is a normal good.
B. soup is an inferior good.
C. soup is a Giffen good.
D. bread is an inferior good.
You would expect the price elasticity of demand for transportation generally to be:
A. less than price elasticity of the demand for bus tickets. B. the same as price elasticity of the demand for bus tickets. C. greater than price elasticity of the demand for bus tickets. D. greater than price elasticity of the demand for bus tickets when bus tickets are expensive, but less than price elasticity of the demand for bus tickets when the prices of bus tickets fall.