The structural deficit is
A) the difference between the actual deficit and the natural employment deficit and it increases whenever income rises.
B) identical to the natural employment deficit and it decreases whenever tax rates are cut.
C) identical to the natural employment deficit and it increases whenever the natural level of output increases.
D) identical to the natural employment deficit and it decreases whenever the natural level of output increases.
D
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The figure above shows Sam's budget line. Which of the following formulas represents Sam's budget equation?
A) $60.00 = $1.50/Qg + $3.00/Qc B) $60.00 = Qg /$1.50 + Qc /$3.00 C) $60.00 = $1.50(Qg) + $3.00(Qc) D) $60.00 = $1.50(Qg) - $3.00(Qc)
The marginal factor cost is the
A) additional revenue obtained from a one-unit change in labor input. B) additional revenue obtained from a one-unit change in output. C) change in output resulting from the addition of one more worker. D) cost of using an additional unit of an input.