The short-term ups and downs in the level of economic activity is known as a(n)
A. business cycle.
B. recovery model.
C. circular flow model.
D. unemployment trend.
Answer: A
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A data lag
What will be an ideal response?
The federal budget deficit went over $100 billion for the first time in
A. 1977. B. 1979. C. 1982. D. 1984.
If there are 10 million people employed, 1 million unemployed, 500,000 discouraged workers, and 400,000 collecting unemployment insurance, there are _____ people in the labor force.
Fill in the blank(s) with the appropriate word(s).
The average cost of the distortion created by taxes
A. is higher when the tax rate is constant than when it fluctuates. B. is lower when the tax rate is constant than when it fluctuates. C. equals the square root of the tax rate. D. increases proportionately with the tax rate.