The remarkable fact about the structural deficit after 1983 was that it was
a. very high.
b. very small for a period of economic recovery.
c. very high during peacetime.
d. high during Republican administrations.
c
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To close an inflationary gap, the government will
a. run budget deficits b. decrease taxes, leaving government spending unchanged c. increase both taxes and government spending d. run budget surpluses e. legislate a reduction in the rate of inflation
Labor contracts often fix wages for more than one year
a. True b. False Indicate whether the statement is true or false
The minimum possible average total cost of a computer repair shop is $40 and the minimum possible average variable cost is $30. If you operate this shop, you will shut it down immediately if the equilibrium price of computer repairs falls below
A. $40. B. $35. C. $30. D. $20.
Behavioral economists believe that people can be made better off by:
A. Giving them more options, just like the belief of neoclassical economists B. Giving them more options, contrary to the belief of neoclassical economists C. Getting them to select better from the same set of options as they had initially D. Requiring them to follow an externally-determined best choice among their options