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Which of the following is true during the expansionary phase of the business cycle?

True or False.  Budget Deficits and surpluses experienced by the US have been impacted by the amount of spending and collection of tax revenues over time.

True or False.  The natural rate of unemployment is approximately 4-6% in the US due to structural and frictional unemployment.

True or False.  Comparing spending over time in nominal dollars is accurate in examining government spending.

Mark all that apply.  Wages are sticky downward due to:

If you are determining your total expenses for school next quarter, you are using money primarily as

True or False.  Individual income taxes and payroll taxes that finance social security and medicare make up 70% of the federal tax revenues.

True or False.  In countries that have patents, studies show that the inventors receive 2/3 of their economic value.

True or False.  Sources of tax revenue do not vary widely across state and local governments. 

True or False.  Comparing spending over time in nominal dollars is accurate in examining government spending.