The time it takes for Congress to deliberate over a specific fiscal policy action is an example of
A. A multiplier conflict.
B. A design problem.
C. A measurement problem.
D. An implementation problem.
Answer: D
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The unemployment rate will never equal zero percent because
A) there are some people who do not want to work. B) there will always be discouraged workers. C) some portion of the labor force will always be between jobs. D) cyclical unemployment will always exist.
In response to an increase in the population and the labor force, we would expect
a. both the short run and long run Phillips curve to shift to the right. b. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right. c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right. d. both the short run and long run Phillips curve to shift to the left. e. none of the above.
Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, the resulting deadweight loss will be
A) $1.50. B) $200. C) $150. D) $300. E) $600.
To change the definition of demand to the definition of supply, all we would need to do is change the word _____ to _____.
Fill in the blank(s) with the appropriate word(s).