The system of grants from one level of government to another is an example of fiscal federalism.
Answer the following statement true (T) or false (F)
True
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The unemployment rate is found by dividing the number of unemployed people by the
A) number of working individuals, and multiplying by 100. B) number of the working-age population, and multiplying by 100. C) sum of working individuals plus unemployed workers, and multiplying by 100. D) number in the labor force, and dividing by 100.
Changes in total factor productivity are plausible causes of business cycles because
A) of the welfare theorems. B) the U.S. government is following supply-side economic policy. C) the model matches many stylized facts. D) prices are countercyclical.
Restructuring social security benefits might stimulate economic growth; however, we must consider the cost of this action, which is
a. adequate benefits for everyone except those who originally needed social security b. an increased burden on other social programs such as food stamps c. a reduction in saving d. a reduction in other governmental programs e. a movement of the production function to the left
Game theory is based on the idea that
a. government determines the rules of the game b. firms are strategically independent c. firms are price takers d. a player's strategy must take account of the strategies followed by other players e. a player's strategy must be independent of the strategies followed by other players