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An economy in equilibrium is always at full employment Dif The Bureau of Labor Statistics

 An economy in equilibrium is always at full employment.

Diff:

22.              The Bureau of Labor Statistics (BLS) calculates the unemployment rate by dividing the
                            number of unemployed workers by the total number of workers.

23.              The Bureau of Labor Statistics (BLS) includes discouraged workers in its measure of the
                            labor force.

24.              The economy achieves full employment when the actual rate of unemployment equals the
                            natural rate of unemployment.

25.              Inflation helps lenders and hurts borrowers.

 

26.              When aggregate expenditure falls short of the level needed to generate a full-
                            employment, noninflationary equilibrium, then a recessionary gap exists.

27.              When aggregate expenditure exceeds the level needed to generate a full-employment,
                            noninflationary equilibrium, then a recessionary gap exists.

28.              The government can close an inflationary gap by reducing government spending.

 

29.              Fiscal policy is the use of government spending and taxation to make changes in the level
                            of national income.

30.              Equal increases in government spending and taxes will exactly offset each other, leaving
                            the equilibrium level of output unchanged.

Feb 11 2020 View more View Less

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