The natural employment deficit ________ be used to determine the effectiveness of discretionary fiscal policy actions because ________
A) cannot; it excludes non-discretionary spending changes
B) can; it includes non-discretionary spending changes
C) cannot; it includes non-discretionary spending changes
D) can; it excludes automatic stabilization expenditures
D
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Economic growth ________
A) is driven by different elements in different economies B) is driven primarily by digital technology C) is driven primarily by labor growth D) cannot be explained using economic models
The user cost of an exhaustible resource is
A) the same as its price. B) the same as its production cost. C) the opportunity cost of using the resource today rather than saving it for the future. D) the amount of the resource that is extracted today. E) not related to the amount of the resource that exists.
The failure of the Bank of the United States in December 1930 probably intensified the banking panic for each of the following reasons except that it proved that ___
a. the Fed might fail to act as a lender of last resort. b. big banks could fail. c. New York Banks could fail. d. that Wall Street banks could fail.
Refer to the information provided in Table 6.1 below to answer the question(s) that follow. Table 6.1Number of Hamburgers per DayTotal UtilityMarginal Utility130?252?367?476?5?4Number ofSodas per DayTotal UtilityMarginal Utility120?235?347?457?5?7Refer to Table 6.1. Assume that a store is giving hamburgers and sodas away for free. Consumers can have as many sodas and hamburgers as they want, but the food has to be consumed one unit at a time. If George has already had one soda and two hamburgers, then George should
A. be indifferent between consuming the second soda or the third hamburger. B. consume neither another soda nor another hamburger to maximize his utility. C. next consume a hamburger to maximize his utility. D. next consume a soda to maximize his utility.