A deadweight loss is the loss to society of not producing the supply-and-demand determined level of output

The cyclical deficit is the portion of the deficit

A) that would exist if the economy were at full employment. B) that does not add to the national debt. C) that is the result of nondiscretionary federal spending. D) created by fluctuations in real GDP. E) that is the result of discretionary federal spending.

The supply curve indicates the minimum quantity that a producer would be willing to supply at alternative prices

Indicate whether the statement is true or false