Economists refer to a budget deficit that exists when the economy is achieving full employment as a:
A. cyclical deficit.
B. cyclically adjusted deficit.
C. natural deficit.
D. nonrecurring deficit.
B. cyclically adjusted deficit.
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What does the PPI measure?
A) the level of production of goods and services generated in the economy in a given year B) the average of the prices received by producers of goods and services at all stages of the production process C) the average change in the prices paid for all goods produced in the economy over a given year D) the difference between the prices consumers pay for goods and services and the prices producers pay for goods and services
If you sell a $100,000 interest-rate futures contract for 110, and the price of the Treasury securities on the expiration date is 106, your ________ is ________
A) profit; $4000 B) loss; $4000 C) profit; $6000 D) loss; $6000
Supply-siders and Keynesians agree that with the correct approach to stabilization policy, it is possible to reduce both the unemployment rate and the inflation rate
Indicate whether the statement is true or false
If a firm is a price taker, then it can
a. sell below the market price and increase its economic profit b. sell all it wants at the market price c. sell above the market price and increase its economic profit d. supply the entire market e. choose its own price