The cyclically adjusted budget is also called the:
A. actual budget.
B. administrative budget.
C. cyclical budget.
D. full-employment budget.
Answer: D
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If Italy can produce grapes at a lower opportunity cost than any other nation, Italy is said to have a(n) ________ in the production of grapes
A) comparative disadvantage B) autarky C) comparative advantage D) absolute advantage
Refer to Table 1-4. What is Eva's marginal cost if she decides to stay open for two hours instead of one hour?
A) $12 B) $24 C) $36 D) $71
Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are
A. sticky prices. B. administered prices. C. market prices. D. regulatory prices.
What is the real interest rate if the nominal interest rate is 7 percent and the expected inflation rate is 7 percent?