In the above table, the size of the labor force is
A) 210 million.
B) 155 million.
C) 140 million.
D) 100 million.
C
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Starting from long-run equilibrium, a favorable inflation shock results in a short-run equilibrium with ________ inflation and ________ output.
A. lower; lower B. higher; lower C. higher; higher D. lower; higher
The supply of money in the U.S. economy is determined primarily by
A) the demand for money in the economy. B) the actions of the Federal Reserve and the banking system. C) decisions made by the Federal Reserve and the U.S. Treasury. D) consumers and the banking system.
Explain the funding structure of the Social Security and Medicare programs. Why are these programs in danger of running out of funds in the future?
What will be an ideal response?
Which of the following is a problem with discretionary fiscal policy as an economic stabilization tool?
a. Discretionary changes in fiscal policy can be easily anticipated by private decision makers. b. It is difficult to properly time discretionary changes in fiscal policy. c. Discretionary fiscal policy is only effective during a recession. d. Discretionary fiscal policy is only effective during an economic boom.