The adult population must equal the sum of the employed, the unemployed, and those not in the labor force
a. True
b. False
Indicate whether the statement is true or false
True
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A cut in the income tax rate designed to encourage household consumption is an example of:
(a) Expansionary demand-side policy; (b) Contractionary demand-side policy; (c) Expansionary supply-side policy; (d) Contractionary supply-side policy.
Describe the three basic types of personal consumption expenditures
What will be an ideal response?
A price may be sticky because
A) of monetary policy. B) of menu costs. C) of total factor productivity shocks. D) of the monetary illusion.
Government bureaucrats want larger budgets
A. because salaries are sometimes tied to budget size. B. to fulfill an "empire building" tendency. C. because it may be necessary to ensure marginal benefits of output equal marginal costs. D. all of these answer options are correct.