The federal budget deficit in 2009 was more than eight times larger than the deficit in 2007
a. True
b. False
Indicate whether the statement is true or false
True
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Policies aimed at reducing the natural rate of unemployment are referred to as
a. stabilization policies. b. structural policies. c. macroeconomic policies. d. labor policies.
Which of the following statements regarding monopolistic competition is not correct?
a. In the long-run equilibrium, price equals average total cost. b. In the long-run equilibrium, firms earn zero economic profit. c. In the long-run equilibrium, firms charge a price above marginal cost. d. In the long-run equilibrium, firms produce a quantity in excess of their efficient scale.
Producer surplus is the
What will be an ideal response?
Rising unemployment and decreased business confidence could be signs that the economy is at the start of a(n):
A. recession. B. boom. C. expansion. D. recovery.