An adverse supply shock causes the short-run aggregate supply curve to shift left, increasing the price level
Indicate whether the statement is true or false
TRUE
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Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use them are called:
A) public-use data. B) primary data. C) secondary data. D) private-use data.
The government budget constraint says that ________
A) the difference between spending and revenues must equal the amount of new bond issues B) increases in spending must be matched by increases in revenue C) interest on government debt must be paid before tax revenues are spent on goods and services or disbursed as transfer payments D) state and local governments, in aggregate, cannot spend more than the federal government
Accounting that relates how growth in inputs of production are related to growth in output is called:
A. input to output accounting. B. national income accounting. C. production accounting. D. growth accounting.
There is a negative relationship between two variables if:
A. they move in opposite directions. B. they move in the same direction. C. one variable changes and the other does not. D. neither variable moves.