The increasing share of women in the labor force may have contributed to the decrease in unionization
a. True
b. False
Indicate whether the statement is true or false
True
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
The table above shows the total product schedule for Rick's Lawn Service, a yard care company. Increasing marginal returns
A) end when the fourth worker is hired. B) occur at all levels of employment. C) occur as long as output increases. D) end when the second worker is hired. E) never occur.
In the current year, a nation's government spending equals $15 trillion and its revenues are $20 trillion. Which of the following is TRUE?
A) The nation's national debt equals $5 trillion. B) This nation has a current year budget surplus of $5 trillion. C) This nation is currently running a budget deficit of $5 trillion. D) The nation has a current year trade surplus of $5 trillion.
Why do economists think that the structural deficit is a good measure of the direction of fiscal policy?
A. Because it adjusts over the business cycle and reflects the fiscal stimulus of policy. B. Because it changes when policy changes, rather than when the economy changes. C. Because it changes when monetary policy changes, reflecting the interest rate cost of debt. D. Because it adjusts automatically, rather than requiring specific legislation.