Macroeconomists pay little attention to the composition of aggregate output
a. True
b. False
Indicate whether the statement is true or false
True
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Gross federal debt held by the public is equal to
A) total gross federal debt. B) the federal debt held by the Fed minus the federal debt held by other countries. C) the federal debt held by other countries plus the federal debt held by private investors. D) the federal debt held by the Fed plus the federal debt held by private investors.
Why has there been an increase in the inequality of income?
a. The demand for skilled workers has declined. b. The demand for skilled workers has remained constant and the demand for unskilled workers has declined. c. The government policies went against the unskilled workers. d. The demand for skilled workers has increased and the demand for unskilled workers has not kept pace. e. The demand for unskilled workers has increased as they could be hired for lower wages.
Economies of scale imply: (i) a continuously falling AC curve or (ii) a larger output is more efficient than a smaller output.
A. i and ii B. i but not ii C. ii but not i D. neither i nor ii
Long-term chronic unemployment that results even when the economy is producing at a normal rate is called ________ unemployment.
A. global B. cyclical C. structural D. frictional