The deficit at natural level of output is called
A) full-employment deficit.
B) mid-cycle deficit.
C) structural deficit.
D) cyclically adjusted deficit.
E) all of the above
E
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As a whole, nations are better off after trade and specialization because
A) nations can consume along their production possibilities curve, which is outside of their consumption possibilities curve. B) nations can consume along their consumption possibilities curve, which is inside of their production possibilities curve. C) nations experience an inward shift of their production possibilities curve. D) nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve.
A minimum wage policy induces an:
A) excess demand for labor. B) excess supply of labor. C) efficient market outcome. D) elastic labor supply response.
Other things the same, if a country increased its saving rate, in 40 years or so it would likely have
a. higher productivity, and a higher growth rate of real GDP. b. higher productivity, but not a higher growth rate of real GDP. c. the same productivity and growth of real GDP it began with. d. None of the above is correct.
An increase in the interest rate should
A) increase investment spending. B) decrease consumption spending. C) increase government spending. D) increase net exports.