Stimulus spending in 2009 was used for
a. building roads and bridges.
b. providing aid to local and state governments.
c. making payments to the unemployed.
d. All of the above are correct.
d
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Based on the given figure, the economy is initially in long-run equilibrium at point A. If there is a favorable supply shock that increases potential output and shifts the long-run aggregate supply curve from LRAS to LRAS', then there is initially ________ gap and the short-run aggregate supply curve will ________.
A. an expansionary; eventually shift to SRAS" B. a recessionary; eventually shift to SRAS" C. an expansionary; eventually shift to SRAS' D. a recessionary; eventually shift to SRAS'
Unemployment benefits are paid only if a person's income from all sources and assets is below a certain level.
Answer the following statement true (T) or false (F)
A situation in which a market economy leads to too few or too many resources going to a particular economic activity is known as
A) competition. B) excessive competition. C) destructive competition. D) a market failure.
What is the result when real planned saving exceeds real planned investment spending?
A) The economy is in equilibrium. B) There is unplanned accumulation of business inventories. C) There is unplanned depletion of business inventories. D) Employment expands.