Which of the following is not true about a structural deficit?
A. It exists even if the economy is at full employment.
B. It is determined in part by the actions of Congress.
C. It definitely gets larger as unemployment increases.
D. It is influenced by discretionary fiscal spending.
Answer: C
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To make rational forecasts, your predictions do not have to be correct all of the time.
Answer the following statement true (T) or false (F)
The paper currency used by the U.S. at the beginning of the Civil War was referred to as a demand note because:
A) the currency could be exchanged for gold on demand. B) it was used to create the demand for various goods and services. C) demand for the currency was kept constant over the entire period of Civil War. D) it was limited in supply, and there was always an excess demand for the currency in the country.
The table above shows the demand and costs for a single-price monopolist. The firm can maximize its profit by setting its price at
A) $30 per unit. B) $35 per unit. C) $40 per unit. D) $45 per unit.
The largest liability on the balance sheet of most banks is its
A) holdings of securities. B) loans. C) checking account and savings account deposits of its customers. D) deposits with the Federal Reserve. E) vault cash.