In the Keynesian model, when is the economy in short-run equilibrium?
a. when there is no inflation
b. when there is full employment
c. when there is a balanced federal budget
d. when total spending (demand) is equal to production (supply)
Ans: d. when total spending (demand) is equal to production (supply)
Economics
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Refer to Table 17.1. The unemployment rate for this simple economy is
A) 6%. B) 10%. C) 20%. D) 25%.
Economics
In the Employment Act of 1946, Congress committed the federal government to pursue a goal of 0 percent unemployment and inflation.
Answer the following statement true (T) or false (F)
Economics