A possible explanation for the persistence of the U.S. federal budget deficits is that:
a. it is easier politically to increase government spending than to decrease taxes.
b. it is easier politically to decrease government spending than to decrease taxes.
c. it is easier politically to increase government spending than to increase taxes.
d. the economy naturally tends toward recessions

A weakness that could be noted about the unemployment rate is that it

A) does not account for the underutilization of workers. B) considers marginally attached workers as unemployed. C) overestimates the number of part-time workers. D) does not count part-time workers. E) counts discouraged workers as employed.

In a perfectly competitive market, the market supply curve is the sum of the

A) supply curves of all the individual firms. B) average variable cost curves of all the individual firms. C) average total cost curves of all the individual firms. D) average fixed cost curves of all the individual firms.