The demand for cake decorators has no relationship to the demand for cakes
a. True
b. False
Indicate whether the statement is true or false
False
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Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending
A) is authorized only in times of budget deficits B) is authorized only in times of budget surpluses C) is authorized by Congress on an annual basis D) has been authorized by prior law
Explain the process by which the banking system creates money
What will be an ideal response?
In the long run,
A) unemployment is at its natural rate. B) GDP > potential GDP. C) LRAS and SRAS lie on the same line. D) the inflation rate is zero.
Jackson hates to work. He receives a great deal of enjoyment from leisure time. Jackson's elasticity of labor supply is
A. 1. B. Low, perhaps even negative. C. Highly negative. D. High.