The tax cuts passed by Congress in 2003 to help move the economy more rapidly toward potential GDP are an example of...
What will be an ideal response?
discretionary fiscal policy
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The potential adult work force includes:
A) non-institutional population 13 years and over plus people on active duty in the military. B) non-institutional population 16 years and over plus people on active duty in the military. C) non-institutional population 18 years and over. D) civilian non-institutional population 16 years and over.
According to James and Skinner, in 19th century American manufacturing, ____________ was scarce, but __________________ was even scarcer
a. unskilled labor; capital b. capital; skilled labor c. unskilled labor; fuel sources d. capital; raw materials
Describe the role of business inventory change in determining the equilibrium level of GDP and changes in the level of GDP
The best measure of an economy's standard of living is output per capita
Indicate whether the statement is true or false