When federal government spending amounts to less than tax revenues, the federal government runs a budget deficit
Indicate whether the statement is true or false
FALSE
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What is the definition of the unemployment rate? How are part-time workers and discouraged workers treated when calculating the unemployment rate?
What will be an ideal response?
Which of the following accounts for approximately three-fourths of all welfare spending?
a. the school lunch program b. the earned income tax credit c. unemployment compensation and workers' compensation combined d. "in-kind" transfers e. cash transfers
Suppose an increase in government spending stimulates real GDP without affecting the price level. What is the relevant range of the aggregate supply curve in this case?
a. The classical range. b. The intermediate range. c. The Keynesian range. d. The monetarist range.
Suppose a cereal firm, Nabisco, merges with both a wheat firm and milling firm. This is an example of a
A) vertical merger. B) horizontal merger. C) parallel merger. D) diagonal merger.