The amount the government budget deficit would be if the economy were at full employment is known as the

A prominent aspect of the Great Depression of the 1930s, but not of the recent Great Recession, is ________

A) bank panics B) mortgage defaults C) an increase in the credit spread D) nonconventional monetary policy

Which of the following is not correct concerning quotas?

a. The enactment of quotas rewards domestic producers with higher prices. b. The enactment of quotas creates opportunities for lobbyists to seek the perpetuation of quotas. c. Quotas on steel, textiles and apparel, and sugar have been in effect for several decades. d. Lobbying efforts by domestic producers and foreign exporters are vigorously fought by domestic consumers. e. The auctioning of quotas would reduce their attractiveness to foreign exporters.