The federal government has major assistance programs aimed at providing all of the following goods, except one. Which is the exception?
a. housing
b. energy
c. school lunches
d. clothing
e. food
D
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
If the marginal private cost of producing one kilowatt of power in California is ten cents and the marginal social cost of each kilowatt is fourteen cents, then the marginal external cost equals ________ per kilowatt
A) ten cents B) nineteen cents C) four cents D) zero cents E) fourteen cents
The theory of rational expectations states that
a. expected inflation will be no different from actual inflation, on average. b. expectations are based on all possible information. c. individuals always act optimally. d. expected inflation will be lower than actual inflation.
The natural rate of unemployment
a. is 6 percent. b. is the long-run average rate of unemployment. c. is 4 percent. d. varies between 4 and 6 percent.