Marxism's ultimate goal is for ____________ ____________
Fill in the blank(s) with the appropriate word(s).
Answer: economic equality
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________.
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Fiscal policy is sometimes initiated on the advice of the
A. Congressional Budget Office. B. Federal Reserve Board. C. Joint Economic Committee. D. Council of Economic Advisers.
Unemployment:
A. changes primarily because of macroeconomic forces. B. can have serious social consequences. C. can create uncertainty about the future. D. All of these are true.
Exhibit 10-6 Aggregate supply curve
In Exhibit 10-6, the economy's employment potential is fully exhausted at:
A. GDP = $1,000 billion. B. GDP = $1,100 billion. C. GDP = $1,200 billion. D. the employment potential is never fully exhausted.