If potential output equals $5 billion and actual output equals $6.5 billion, then this economy has a(n):
A. recessionary gap.
B. expansionary gap.
C. trade deficit.
D. budget deficit.
Answer: B
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The U.S. Census Bureau estimates the number of illegal immigrants by subtracting the:
A. Sum of the past annual flows of legal immigrants from the past annual inflows of all immigrants B. Current number of legal immigrants from the current total number of all immigrants C. Current of legal immigrants from the past annual inflows of all immigrants D. Sum of the past annual flows of legal immigrants from the current total number of all immigrants
Which of the following statements about the slave family in the U.S. is most accurate?
a. Slave owners preferred slaves who lived in intact families. b. In most two-parent slave families, the parents lived on different plantations. c. The father was white in about 75 percent of the households headed by single slave mothers. d. About half of children under 15 years of age were sold away from their families.
Mercantilist policy is to do everything it can to promote exports and to discourage imports
a. True b. False Indicate whether the statement is true or false
Special-interest groups engage in rent seeking to the extent, that they shift resources from productive endeavors to activities that transfer income to their special interests
Indicate whether the statement is true or false