Sweden and Norway are usually described as ________________ economies.
Fill in the blank(s) with the appropriate word(s).
socialist
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Suppose that medical researchers discover a new drug which slows the aging process, allowing the average life span in the United States to increase to 95 years of age. The permanent-income hypothesis suggests that
A) consumption spending would increase since lifetime income increases. B) consumption spending would increase since estimates of permanent income would increase. C) consumption spending would decrease since savings would rise to provide income for the longer retirement periods. D) None of the above is correct since predicted future annual incomes may not change.
Even though the number of workers in manufacturing has increased in the post-war world (since 1947), the proportion of manufacturing workers in the total labor force has declined
Indicate whether the statement is true or false
When government expenditures are greater than tax revenues
A) there will be budget surplus. B) the public debt will be reduced. C) there will be budget deficit. D) automatic stabilizers do not kick in.
A line that slopes downward from left to right has a
A. Negative slope. B. Slope that changes as you move along the curve. C. Slope of zero. D. Positive slope.