From 2000 to 2010, the public sector share of total output
A. Trended up for state and local governments and down for the federal government.
B. Trended up for state and local governments and up for the federal government.
C. Remained stable for the federal government but trended up for state and local governments.
D. Remained stable for state and local governments but trended up for the federal government.
Answer: B
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Frictional unemployment is the result of
A) the economy entering a strong expansion. B) normal labor market turnover. C) a slowdown in the rate of economic expansion. D) changes in the weather. E) technological change or foreign competition.
Which of the following statements best describes the level of potential output in the U.S.?
A. It has been decreasing since 1999 B. It never changes year to year C. It usually increases year to year D. It is very erratic year to year