Which of the following would increase the cyclically adjusted deficit?
A) an increase in income.
B) a decrease in income.
C) an increase in the primary deficit.
D) a decrease in the primary deficit.
E) none of the above
D
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If unemployment and inflation always move in the same direction, then we can infer that business fluctuations are
A. from the demand side. B. from the supply side. C. from both the demand and supply side. D. purely random events.
Business cycles all display the following characteristics except
A) a period of expansion followed by one of contraction. B) comovement of many economic variables. C) rising prices during an expansion and falling prices during the contraction. D) they last a period of one to twelve years.
If the interest rate in the Mexican economy increases, then the most likely outcome would be that, in Mexico, the
a. economy will move to a new point along its existing consumption curve b. consumption curve will shift upward c. consumption curve will shift downward d. investment curve will shift upward e. economy will move to a new point along its existing investment curve
If a firm shuts down in the short run
A) its loss equals zero. B) its loss equals its fixed cost. C) is makes zero economic profit. D) its total revenue is not large enough to cover its fixed cost.