On a given short-run Phillips curve which of the following is held constant?
a. the level of GDP
b. the unemployment rate
c. expected inflation
d. employment
c
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The most inclusive of all price indexes is
a. the GDP deflator b. the price level c. the CPI d. nominal index e. real index
Loans are better than grants for higher education.
A. True B. False C. Uncertain
When we compare the income distribution of the United States to those of other countries, we find that the U.S. has
a. an income distribution similar to Japan's. b. an income distribution similar to South Africa's. c. one of the most unequal income distributions. d. a bit more inequality than the typical country.
Which of the following is not true about government spending on national defense?
a. It is the third-largest spending category for the U.S. federal government. b. It includes salaries of military personnel. c. It fluctuates over time as the political climate changes. d. It is not financed with tax revenue.