Policies that affect aggregate expenditures are primarily relevant to the:
A. long-run growth framework.
B. short-run business cycle framework.
C. long-run business cycle framework.
D. short-run growth framework.
Answer: B
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According to the Bureau of Labor Statistics, most U.S. adults are either
A) employed or unemployed. B) employed or not in the labor force. C) unemployed or not in the labor force. D) unemployed or underemployed.
Draw the graph of the GG and LL schedules and explain the logic behind the slopes of each of the schedules
What will be an ideal response?
If the GDP gap is -$3.5 trillion, then
A. workers are employed overtime. B. the economy is experiencing a boom. C. the economy is in a recession. D. cyclical unemployment is negative.
Manufacturers produce only what the market is willing to pay for.
Answer the following statement true (T) or false (F)