Classical economists reject the laissez-faire theory that the economy would self correct to full employment without government interference
a. True
b. False
Indicate whether the statement is true or false
False
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When optimizing in levels, if the ________ exceeds the ________, Project A is chosen over Project B
A) marginal benefits of Project B; marginal benefits of Project A B) net benefits of Project A; net benefits of Project B C) total benefits of Project A; total benefits of Project B D) marginal cost of Project A; marginal costs of Project B
Suppose that most government spending was on capital goods that contribute to economic growth. How would that affect the Ricardian equivalence debate?
What will be an ideal response?
Over the last 30 years, the income gap between the rich and the poor has declined
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of frictional unemployment?
A. A worker stays at home to take care of children. B. A worker can't find a job because she is skilled at running an obsolete machine. C. A student goes to school instead of working. D. A worker leaves one job and is temporarily unemployed before starting a new one.