The public debt is the amount of money that:
A. state and local governments owe to the federal government.
B. the federal government owes to taxpayers.
C. the federal government owes to holders of U.S. securities.
D. Americans owe to foreigners.
Answer: C
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Structural unemployment can increase due to all of these except:
A. labor unions. B. government regulations. C. unemployment insurance. D. worker mobility.
In a closed economy, private saving is equal to which of the following? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y + TR - C - T B) Y - C - T C) Y - G - T + TR D) Y - G - T
The break-even investment line becomes flatter when the depreciation growth rate ________ or the labor force growth rate ________
A) increases; decreases B) increases; increases C) decreases; increases D) decreases; decreases
Which of the following is true about unemployment?
a. the benchmark high-employment level is most likely between 3 and 4 percent b. In recent years, the appropriate benchmark high-employment level has risen. c. Based on the experience of the 1960s, a 7 percent unemployment rate was too low to be sustained without a buildup of inflationary pressure d. During the 1970s, the benchmark high-employment level rose but this was not observed by economists at the time.