Full employment does NOT necessarily mean that every adult has a job because
A. students and homemakers are always looking for work.
B. policy makers never want to achieve full employment.
C. there are always some discouraged workers.
D. there are transaction costs in finding a job in the labor market.
Answer: D
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Who pays the interest on government debt for the money it borrows today?
A) future generations of taxpayers B) the Congressional Budget Office C) the Federal Reserve D) The government does not pay interest on money it borrows.
Which statement is true?
A. President Eisenhower did not attempt to undo the legacies of the New Deal, such as Social Security and unemployment insurance. B. There was a major tax increase in 1964. C. A war in Vietnam and a "war on poverty" in the Johnson Administration helped to reduce the federal budget deficit. D. None of the choices are true.
Exhibit 2-1 Production possibilities curve data ConsumptionGoods CapitalGoods 10 0 9 1 7 2 4 3 0 4 In Exhibit 2-1, according to the information, the opportunity cost of producing the 3rd unit of capital is:
A. 3 units of consumption goods. B. 4 units of consumption goods. C. 6 units of consumption goods. D. 7 units of consumption goods.
Related to the Economics in Practice on p. 429: The value of the fees charged by eBay to sellers who use eBay is
A. only counted in U.S. GDP if the seller is in the U.S. B. never counted in U.S. GDP C. counted in U.S. GDP. D. only counted in U.S. GDP if the product being sold is new.