Unions often face a tradeoff between higher wage rates and employment
Indicate whether the statement is true or false
T
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In the long run, a higher government deficit does not affect equilibrium real Gross Domestic Product (GDP), so that continuous increases in the government deficit will
A) lead to greater tax revenues. B) reduce spending on privately provided goods and services. C) reduce the price level. D) increase the unemployment rate.
Which of the following policies would increase the growth rate of an economy in the endogenous growth model with human capital?
A) mandatory schooling. B) minimum wages. C) redistributive taxation. D) lump-sum taxation.
People continue to value money because they have confidence in its convertibility into goods and services
a. True b. False Indicate whether the statement is true or false
Transfer payments are the ________ in the government's budget.
A. largest revenue source B. smallest revenue source C. smallest expenditure source D. largest expenditure source