If the government ran a major deficit, and there was no noticeable effect on the level of GDP, this could be taken as evidence of
a. crowding-in.
b. structural deficit.
c. crowding-out.
d. monetary policy ineffectiveness.
c
Economics
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If an economy has been operating below its potential output level,
a. frictional unemployment is too high b. more individuals should begin entering the labor force c. the government should create more jobs d. unemployment is likely rising. e. the production possibilities frontier will shift
Economics
Refer to the data. The marginal cost of producing the sixth unit of output is:
A. $24.
B. $12.
C. $16.
D. $8.
Economics