If an entire industry relocates to a foreign country, the relocation leads to a higher rate of ________ unemployment
A) frictional
B) structural
C) structural and frictional
D) cyclical
E) structural and cyclical
B
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Demand for labor is
A. derived demand. B. highly elastic. C. dependent on its supply. D. directly proportional to capital employed.
Of the alternative measures of the price level, _________ overcomes the bias of the CPI and is a better measure of the cost of living because it _________
A. GDP price index; uses a current basket B. PCE price index; uses a current basket of all consumption goods C. PCE price index excluding food and energy; is less volatile D. GDP price index; includes all goods and services bought by Americans
The question of whether the public or the private sector is appropriate to provide public goods must be decided on a case by case basis
a. True b. False
The government budget constraint implies that
A) government borrowings = government spending+ transfers - taxes and user charges. B) government borrowings = taxes and user charges + government spending - transfers C) government spending = transfers - taxes and user charges - government borrowing. D) government spending = government borrowing - transfers - taxes and user charges