Suppose the labor force in Tiny Town is 100 people. If the ________ in Tiny Town is 150 people, the labor force participation rate equals ________ multiplied by 100
A) working age population; 100/150
B) working age population; 100/250
C) number of employed persons; 100/250
D) number of employed persons; 100/150
A
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Compare the views of Keynesian and mainstream economists on the effects fiscal stimulus has on real GDP and employment
What will be an ideal response?
Most corn produced in the United States is used for animal feed. The demand for corn is inelastic. These facts mean that
A) there are many substitutes for corn in feeding animals. B) there are few substitutes for corn in feeding animals. C) there are no substitutes for corn in feeding animals. D) animals are not buying the corn themselves, so we cannot learn anything from these facts.
When government spending exceeds tax revenues during a specific time period, this is known as a
A) government budget deficit. B) government budget surplus. C) balanced budget. D) public debt.
A spending shock is a change in spending that ultimately affects the entire economy
a. True b. False