A budget deficit that needs government action to remove it is a ________ deficit. A ________ deficit will disappear when the economy moves back to full employment.
Fill in the blank(s) with the appropriate word(s).
structural; cyclical
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What kind of elasticity is relevant when you are trying to figure out how a price cut by the burger shop next door will affect the demand for your pizza? Explain
What will be an ideal response?
The slope of the budget line
a. always equals 1. b. equals income divided by price. c. equals the ratio of the prices. d. decreases as we move from left to right.
Which of the following did the Fed do during the recession of 2008-2009?
a. lowered the federal funds rate and sold securities and loans b. lowered the federal funds rate and purchased securities and loans c. raised the federal funds rate and sold securities and loans d. raised the federal funds rate and purchased securities and loans
If a monopolist can sell 20 units at price of $200 per unit and 30 units at a price of $180 per unit, its marginal revenue at an output of 30 is
A) $-200. B) $800. C) $1400. D) $1800.