At levels of GDP above full employment, the federal budget would usually be in a deficit position
a. True
b. False
Indicate whether the statement is true or false
False
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If average incomes of a nation don't rise over time:
A. it will have no impact on the nation's ability to improve health. B. improvements in health are still very likely. C. improvements in health are impossible. D. improvements in health are still possible.
The income-expenditure model focuses on changes in price levels
Indicate whether the statement is true or false
Government expenditure ________ change potential GDP and taxes ________ change potential GDP
A) can; can B) cannot; can C) can; cannot D) cannot; cannot E) None of the above answers is correct.
The above table gives some of Tammy's total and marginal utilities from comedy videos. Which of the following statements is TRUE?
A) Tammy's marginal utility from the third comedy video is equal to 580/3. B) Tammy's total utility from five comedy videos is 800. C) Tammy's marginal utility from the first comedy video is less than her marginal utility from the third comedy video. D) None of the above answers are correct.