The national debt is the total amount the ________ government has borrowed to make expenditures that ________ tax revenue
A) federal; exceed
B) state and local; exceed
C) state and local; are less than
D) federal; are equal to
E) federal; are less than
A
You might also like to view...
The phenomenon of underutilization of labor during a recession is called
A) labor stockpiling. B) investing in human capital. C) labor force stabilization. D) labor hoarding.
Refer to Scenario 17.2. If the threshold educational level y* is set at 13 1/3,
A) only individuals in Group K will attain it. B) only individuals in Group M will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Scarcity is:
A. a fact of life because of limited resources. B. not a problem for Bill Gates because he is a billionaire. C. can be eliminated by rational decision making. D. is a problem studied in microeconomics but is not a macroeconomic concern.
The good news for unions and their members is that union workers earn about 20% more than nonunion workers, even after adjusting for factors such as years of work experience and education level. What is the bad news?
a. In the 1930s, union members earned 37% more than nonunion members, after adjusting for inflation. b. Most unionized companies were driven out of business, leaving only about 5% of U.S. workers in unions. c. The percentage of U.S. workers who belong to labor unions has declined steadily for 50 years. d. As union membership rises, the wage gap will shrink.