The portion of the budget deficit or surplus that would exist even if the economy were at its potential income is called the cyclical deficit or cyclical surplus.
Answer the following statement true (T) or false (F)
False
This portion of the deficit or surplus is called the structural deficit or surplus.
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In the figure above, if the market is at equilibrium, the sum of the total consumer surplus and the total producer surplus is
A) $240. B) $600. C) $1,000. D) $0. E) $60.
Assume that the growth rate of real GDP in Astoria is 7.5%. Assume the growth rate of velocity is 0%
If Astoria's current annual inflation rate of 5.99%, the growth rate of the money supply will be A) -1.51%. B) 1.51%. C) 5.99%. D) 13.49%.
Refer to Scenario 12.3. What will be the price of this new drink in the long run if the industry is a Cournot duopoly?
A) $3 B) $9 C) $12 D) $13.50 E) none of the above
Right-to-work laws
a. guarantee workers the right to form unions. b. give workers in a unionized firm the right to choose whether to join the union. c. prevent employers from hiring permanent replacements for workers who are on strike. d. prevent workers from being fired because of increases in wages brought about by collective bargaining.