Because one country’s imports are another country’s exports, rapid (or sluggish) economic growth in one country contributes to rapid (or sluggish) growth in other countries.
Answer the following statement true (T) or false (F)
True
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The shut-down decision is a short-run decision.
Answer the following statement true (T) or false (F)
The federal budget deficit becomes _____ during recessions because _____
a. smaller; transfer payments increase and tax revenues decline b. larger; transfer payments increase and tax revenues decline c. larger; both transfer payments and tax revenues increase d. smaller; both transfer payments and tax revenues increase e. smaller; both transfer payments and tax revenues decrease
The Full Employment Act of 1946 was based on the ideas associated with the
a. classical school b. Keynesian school c. rational expectations school d. supply-side school e. monetarist school
Which of the following would be most likely to reduce the rate of unemployment?
a. a business recession b. an Internet job listing system that makes it easier to get information about job openings and available employees c. an increase in unemployment compensation benefits d. a rise in the minimum wage