If the firm is maximizing profits, it is producing ____ units of output and charging a price of ____.
A. OF; ON
B. OF; OL
C. OG; ON
D. OG; OM
B. OF; OL
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Structural unemployment usually lasts longer than frictional unemployment
Indicate whether the statement is true or false
When a budget deficit occurs in the United States, the U.S. Treasury finances this deficit by
A) borrowing. B) imposing a moratorium of new government spending. C) increasing the tax rate. D) printing more dollars.
In which one of the following situations is the political process most likely to result in both the acceptance of efficient (productive) programs and the rejection of inefficient (counterproductive) political activities?
a. The people who benefit from a government program pay the costs of the program roughly in proportion to the benefits that each receives. b. The benefits are highly concentrated, and the costs are widespread among voters. c. The costs are highly concentrated, and the benefits are widespread among voters. d. The benefits accrue primarily in the future, while the costs are more visible during the current period.
One of President Obama's first policy initiatives was a stimulus bill that included large increases in government spending
a. True b. False Indicate whether the statement is true or false