Government purchases
A. are determined by the political process.
B. are determined by suppliers.
C. are determined by the public.
D. are determined by taxpayers.
Answer: A
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In the figure above, what is Gap's excess capacity?
A) 32 jackets per day B) zero C) 4 jackets per day D) 132 jackets per day
If an economy's population grows at 3 percent and income grows at 4 percent, then
a. per capita income is declining b. the economy's standard of living is decreasing c. per capita income is negative d. per capita income is growing e. human capital per capita is increasing
According to a 1977 amendment to the Federal Reserve Act of 1913, what are the goals the Fed should promote?
If the output gap equals ?3.2 percent, then:
A. potential GDP is lower than actual GDP. B. there is no cyclical unemployment. C. cyclical unemployment equals the sum of structural and frictional unemployment. D. there is a recessionary gap.