Persons in the civilian labor force fall into one of two categories: ____________ or ___________.
a. job leaver; job loser
b. entrant; reentrant
c. employed; unemployed
d. discouraged workers; encouraged workers
Answer: c. employed; unemployed
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The deadweight loss of a tax
A) is the transfer of income from households to the government. B) determines the incidence of a tax. C) is part of the total burden of a tax. D) is greater than the total burden of a tax. E) equals the tax revenue collected by the government.
A straight-line demand curve has an elasticity that becomes smaller as we move from left to right along the schedule
a. True b. False Indicate whether the statement is true or false
Refer to Table 9-2. In Year 2, if savings deposits had been $250 billion instead of $200 billion, M2 would have been
A) $575 billion. B) larger by $50 billion. C) smaller by $50 billion. D) unaffected.
The current account balance includes international purchases and sales of goods and services, cross-border interest and dividend payments, and cross-border gifts to and from both private individuals and governments. It is approximately the same as net exports.
Answer the following statement true (T) or false (F)