The actual deficit is a poor measure of the government fiscal policy because it changes independently of intentional government policies
a. True
b. False
Indicate whether the statement is true or false
True
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What is the opportunity cost of government work?
What will be an ideal response?
Professor I.M. Dismal retired from his economics faculty position at the age of 66. Is he now unemployed?
A) No, because he is retired. B) No, because he is over the age of 65. C) Yes, because he is not employed. D) Yes, if he is looking for some other job.
The merger in 1955 joined the
a. Teamsters and the Automobile Workers b. Coal Miners and the Government Workers Union c. American Federation of Labor and the Congress of Industrial Organization d. Knights of Labor and the American Federation of Labor e. Cigar Maker's Union and the Congress of Industrial Organization
If the economy is initially at long-run equilibrium and aggregate demand expands, then in the long run the price level
a) and output are lower than in the original long-run equilibrium. b) is higher and output is the same as the original long-run equilibrium. c) and output are higher than in the original long-run equilibrium. d) is the same and output is lower than in the original long-run equilibrium.