Increasing the federal budget deficit will contribute to increasing the federal government debt
Indicate whether the statement is true or false
TRUE
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Crowding-out
A. refers to the idea that increases in government purchases inevitably cause reductions in some form of private consumption or investment. B. only occurs at full employment levels of National Output. C. is translated into inflation during periods of slack employment. D. does not include loss of leisure on the part of workers employed as a result of government spending.
Bob is unemployed because his skills have become obsolete due to technological advances. This is ____ unemployment.
A. frictional B. structural C. cyclical D. seasonal
If a firm doesn't make an economic profit, it will shut down
Indicate whether the statement is true or false
When prices on science fiction novels decreased by 5%, the quantity demanded increased by 20%. The price elasticity of demand is
a. 4. b. 20. c. 0.25. d. 5.