What effect on taxes from immigration did the Rand corporation find?
a. A positive effect at the federal level and at the state and local level
b. A negative effect at the federal level and at the state and local level
c. positive effect at the federal level and a negative effect at the state and local level
d. A negative effect at the federal level and a positive effect at the state and local level
c. positive effect at the federal level and a negative effect at the state and local level
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If the natural rate of unemployment equals 6 percent and the actual rate of unemployment equals 5 percent, then cyclical unemployment equals:
A. 11 percent. B. -1 percent. C. 1 percent. D. -1.2 percent.
Use the following graph to answer the next question.
In the graph, Dt is the transactions demand for money, Dm is the total demand for money, and Sm is the supply of money. The market is initially in equilibrium at a 6% interest rate. If the money supply increases, then Sm2 will shift to
A. Sm3 and the interest rate will be 8%. B. Sm3 and the interest rate will be 4%. C. Sm1 and the interest rate will be 8%. D. Sm1 and the interest rate will be 4%.
DSGE models are
A) similar to RBC models but allow for shocks other than productivity shocks. B) similar to RBC models, but government spending shocks play a major role. C) similar to Keynesian models except in the long run. D) similar to Keynesian models except in the short run.
The U.S. government budget was
A) continuously in surplus from 1959 to the late 1990s. B) in surplus for most of the period from 1959-1970, but was in deficit for most of the period from 1970 to the late 1990s. C) in deficit for most of the period from 1959-1970, but was in surplus for most of the period from 1970 to the late 1990s. D) continuously in deficit from 1959 to the late 1990s.