Between 2001 and the financial collapse of 2008, U.S. federal budget deficits hovered around
A. $150 billion.
B. $400 billion.
C. $800 billion.
D. zero.
Answer: B
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An economic model is
A) a generalization that summarizes all the normative assumptions we make about a particular issue. B) a description of some aspect of the economic world that includes only those features of the world that are needed for the purpose at hand. C) a statement that describes how the world should be. D) a collection of facts that describe the real world.
Which of the following is(are) indexed to inflation?
A. Standard deduction B. Employer contributions to pensions C. Gifts and inheritances D. None of the answer options are correct.
Steep Upward-Slope of yield curve so expect _____ interest rates
Fill in the blank(s) with the appropriate word(s).
The long-run market solution to a wage that is so low that workers cannot survive is:
A. the starvation of some low-wage workers until the supply of labor shifts to the left and the wage for survivors increases to above subsistence. B. the reallocation of scarce resources to those who need it the most. C. government intervention into the market to establish a minimum wage so that all workers earn at least a subsistence wage. D. the reallocation of property rights, reducing the wage of some but increasing the wage for those earning a below-subsistence wage.