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The fact that automatic stabilizers work without having Congress or the president explicitly intervene is a major disadvantage.

If you were not studying economics, you could be doing one of these: sleeping in (which you value at $5), playing cards with your friends (which you value at $10), or working (you would have earned an extra $8). The opportunity cost of studying economics is therefore:

Yun quits his job in Topeka, Kansas, and moves to Austin, Texas, to get involved in live music. He is unemployed for three months while he looks for a new job. Yun is frictionally unemployed.

Which of these BEST illustrates the wealth effect?

A theory composed of a number of assumptions and facts boiled down to their basic relevant elements is called a:

Suppose in 2010 the cost of purchasing a basket of goods was $100. That same basket cost $150 in 2011. If 2010 is the base year, the consumer price index for 2011 is:

When the Federal Reserve increases excess reserves to reduce interest rates and stimulate spending, it is said to engage in:

If the labor force is 20 million and the total employed is 18 million, what is the unemployment rate?

As measured as a percentage of their GDP, Japan and Greece have higher public debt than do India and Turkey.

Economic models must: