Unemployment insurance benefits the macroeconomy by supporting purchasing power
a. True
b. False
Indicate whether the statement is true or false
True
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Government in the United States spends more as a percentage of GDP than in most other industrialized nations.
Answer the following statement true (T) or false (F)
Use the following graph to answer the next question.
Suppose the economy is currently in equilibrium at the full-employment real GDP level of Q2.and price level of P2. If an event occurred in the economy that triggered demand-pull inflation, we would expect
A. the price level to move toward P3, and the output level to move toward Q3, B. the price level to move toward P3, and the output level to remain constant. C. the price level to move toward P1, and the output level to move toward Q1, D. the price level to move toward P1, and the output level to remain constant.
In the figure above, if there is no Ricardo-Barro effect, the government has a budget ________ because the ________
A) surplus of 0.2 trillion; SLF curve lies to the right of the PSLF curve. B) deficit of 0.2 trillion; SLF curve lies to the right of the PSLF curve. C) deficit of 0.4 trillion; SLF curve shows a smaller quantity of LF than the PSLF curve. D) surplus of 0.4 trillion; SLF curve shows a larger quantity of LF than the PSLF curve. E) surplus of -0.2 trillion; SLF curve lies to the right of the PSLF curve.
Steve sells hotdogs from a vending cart downtown. The table above shows his total revenue per day at four different prices. Between which two prices is the demand for hotdogs
a) elastic? b) unit elastic? c) inelastic?