The structural deficit/surplus budget
A. measures the federal budget deficit/surplus as if the economy were at full employment.
B. measures the federal budget deficit/surplus as if the economy were in recession.
C. measures the federal budget deficit/surplus as if the economy were suffering from high inflation.
D. is used when structural unemployment is at a peak.
Answer: A
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Which theory suggested that comparative advantage arises from differences in national factor endowments?
a. Mercantilism b. Heckscher-Ohlin c. Absolute Advantage d. Comparative Advantage
When an oligopolist chooses a maximin strategy, how is that helpful and what is being assumed about the other players?
What will be an ideal response?
Which of the following represents a good example of an oligopoly?
A) the agriculture industry B) a public utility C) the automobile industry D) the restaurant industry
Unlike a perfectly competitive firm, a monopolistically competitive firm can incur a loss in the long run
a. True b. False Indicate whether the statement is true or false