Which of the following would not be included in government purchases?
a. The purchase of a computer by a government agency
b. Welfare payments
c. Wages of government employees
d. The purchase of a police car
e. Spending on a new missile program
B
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The existence of an inflationary gap or an recessionary gap depends on the
a. aggregate supply only. b. expenditure schedule. c. leakages schedule. d. injections schedule. e. aggregate demand and aggregate supply schedules.
Which of the following statements best describes the effect of an increase in structural unemployment on an AD/AS diagram?
a. In an AD/AS diagram, an increase in structural unemployment will shift AS to the right. b. In an AD/AS diagram, an increase in structural unemployment will have no effect on AS or AD. c. In an AD/AS diagram, an increase in structural unemployment will shift AS to the left. d. In an AD/AS diagram, an increase in structural unemployment will shift AD to the left.