When drawn against the real interest rate, output supply increases if
A) current government expenses increase.
B) future government expenses increase.
C) current total factor productivity increases.
D) the money supply increases.
C
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If the unemployment rate is 5 percent (full employment), the United States economy is operating
A. inside the production curve. B. on the production curve. C. outside the production curve.
Market demand is
A) the total quantities demanded of all consumers of a particular item at given prices. B) a movement along the demand curve in response to the market. C) total equilibrium demand for the market. D) the demand for and supply of a good or service.
The second largest source of revenue for the federal government is the
A. import tax. B. payroll tax. C. export tax. D. federal property tax.
Import restrictions
A) can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole. B) can protect United States jobs in the protected industry but will also lead to job reductions in other export industries. C) hurt people who work in importing companies, but makes consumers better off. D) cannot protect American jobs in any sector of the economy.