Balancing the federal budget over the business cycle requires
A. deficits incurred during economic slumps that are offset by surpluses during economic booms.
B. raising taxes and cutting spending during stagflation.
C. rapid increases in the national debt during national emergencies.
D. matching deficits and surpluses each time Earth orbits the sun.
E. that the national debt grow only as fast as GDP grows.
A. deficits incurred during economic slumps that are offset by surpluses during economic booms.
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In describing the progress of the typical person in an economy, measuring the median income always does a better job than measuring the mean income
Indicate whether the statement is true or false
The figure above shows the labor market in a region. If a minimum wage of $8 an hour is imposed, then there are ________ unemployed workers
A) 20,000 B) 40,000 C) 60,000 D) 80,000 E) zero