The amount the government budget deficit would be if the economy were at full employment is known as the
A. natural deficit.
B. full-employment deficit.
C. primary deficit.
D. current deficit.
Answer: B
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Which of the following creates a demand for U.S. dollars?
A) Toyota, a Japanese firm, purchasing land in Texas B) a U.S. restaurant purchasing Mexican tomatoes C) a U.S. tourist catching a show in London D) a Japanese tourist catching a show in London
If a firm shuts down in the short run, its losses are equal to
A. TC ? TR. B. TFC. C. TVC. D. MC.
An increase in aggregate demand in the long run will most likely result in: a. a decrease in price and output levels
b. an increase in price and output levels. c. an increase in the price level and a decrease in output. d. a decrease in the price level and an increase in output. e. an increase in the price level but no change in output.
________ is an attempt to ensure that more union labor is hired than producers would prefer. For example, a musician's union may require more musicians be employed in a Broadway musical than is required
a. Filibustering b. A lockout c. Binding arbitration d. Featherbedding