A person who is not in the labor force and not actively looking for a job is
A. employed.
B. unemployed.
C. underemployed.
D. discouraged.
D. discouraged.
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Which term refers to members of Congress bundling unrelated laws together to benefit projects in their own districts?
a. Budget trading b. Vote cycling c. Logrolling d. Pork-barrel spending
Which of the following is not included in Nation A's financial account?
a. Foreign deposits of funds in savings accounts in Nation A. b. Purchases and sales of land and other natural resources. c. Foreign purchases of Nation A's Treasury bills. d. All the above.
Assume a country is required by law to balance the budget every year. Suppose aggregate demand falls, causing a recession and a budget deficit. To balance the budget, what would the government need to do with the level of government spending and taxes?
How would these changes in government spending and taxes affect aggregate demand and the economy? What will be an ideal response?
What do economists mean when they use the phrase "excess burden" as it relates to taxes?
What will be an ideal response?