An inflationary gap is the amount by which aggregate expenditures ____ the amount required to achieve full-employment equilibrium GDP

According to supply-side theory, if one starts from a balanced budget, a cut in taxes will tend to cause ________

A) a budget deficit B) no change in the federal government budget C) a decrease in aggregate supply and an increase in aggregate demand D) a budget surplus

A study using data from the late 1960s showed that black baseball players earned less than comparable white players. Studies of more recent salaries in baseball, however, have found no evidence of discriminatory wage differentials

a. True b. False Indicate whether the statement is true or false