When will the difference between the actual deficit and the structural deficit be the smallest?
a. in a major recession
b. in a major recession
c. at full employment
d. in an inflationary gap
c
Economics
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If the price level rises by 3 percent and workers' money wage rate increase by 1 percent, then the
A) quantity of labor supplied decreases. B) quantity of labor supplied increases. C) quantity of labor supplied does not change because there is no change in the real wage rate. D) real wage rate increases.
Economics
A change in nominal GDP sums up changes in
A) prices alone. B) physical production alone. C) physical production and hours of production time. D) physical production and prices.
Economics