An economy eliminates a recessionary gap by reducing wages and prices
a. True
b. False
Indicate whether the statement is true or false
True
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Which figure above shows the effect if research is published claiming that eating pizza is healthy?
A) Figure A B) Figure B C) Figure C D) Figure D E) Both Figure A and Figure D
The government's main statistic for forecasting business cycles is the index of coincident indicators
a. True b. False Indicate whether the statement is true or false
If the labor supply and demand curves cross at a wage of $20,
a. a wage rate of $10 per hour would lead to an excess demand for labor b. a wage rate of $10 per hour would lead to an excess supply of labor c. that wage causes a high rate of cyclical unemployment d. employees are overpaid e. a wage rate of $10 per hour would mean there is a significant amount of structural unemployment
The U.S. federal government collects about one-half of the taxes in our economy
a. True b. False Indicate whether the statement is true or false