Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of unemployed persons is _____
a. 10
b. 15
c. 40
d. 30
e. 90
a
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The economy entered a recession in January of 2015, but GDP data alluding to the start of the recession was not published and analyzed by the Fed until July 2015. This exemplifies a(n)
A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.
The United Kingdom has a health care system under which the government owns most of the hospitals and employs most of the doctors
Indicate whether the statement is true or false
Competitive markets tend to produce an inefficiently large amount of beneficial externalities.
Answer the following statement true (T) or false (F)
Countercyclical fiscal policy has a serious problem with
a. the timing of its enactment and impact. b. the easy reversibility of policy. c. the tendency of the Federal Reserve to immediately counter Congressional action. d. the courts as it has been held to be unconstitutional. e. Presidential executive orders.