As a percentage of GDP, exports are greater than imports for which of the following countries?
A) France B) China
C) the United Kingdom D) the United States
B
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During the 2007-2009 recession and its aftermath, Okun's law
A) predicted the cyclical unemployment rate more accurately than it did prior to the recession. B) predicted the cyclical unemployment rate at roughly the same rate of accuracy as it did prior to the recession. C) predicted a higher cyclical unemployment rate than was actually experienced in the U.S. economy. D) predicted a lower cyclical unemployment rate than was actually experienced in the U.S. economy.
Panel data
A) is also called longitudinal data. B) is the same as time series data. C) studies a group of people at a point in time. D) typically uses control and treatment groups.
Figure 9-4
?
In Figure 9-4, which expenditure level will result in a recessionary gap?
A. 1 B. 2 C. 3 D. There will be no deflationary gap.
A pollution tax that is exactly equal to marginal external cost will shift the market supply curve to the social-cost supply curve. This tax will thus correct the market inefficiency due to negative externalities by causing price to reflect the full marginal cost of production
a. True b. False Indicate whether the statement is true or false