Americans generally spend more than _____ of their incomes on services.
A. one-third
B. one-half
C. two-thirds
D. three-quarters
C. two-thirds
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Structural unemployment will decrease when:
A. unemployment insurance benefits are increased. B. the minimum wage is decreased. C. the minimum wage is increased. D. union wages are increased.
As inflation rates increase, money becomes less useful as a
A) store of value. B) double coincidence of wants. C) unit of account. D) medium of exchange.
The balanced-budget multiplier is equal to the
A) the autonomous spending multiplier. B) government spending multiplier plus the tax multiplier. C) simple multiplier minus the tax multiplier. D) government spending multiplier plus the simple multiplier.
Why did President Obama want to repeal the Bush era tax cuts on upper income taxpayers? How would the repeal of these tax cuts impact aggregate demand and to what degree? How did the economic conditions in 2010 make such a repeal less likely to take place?
What will be an ideal response?