If the Full-Employment Deficit as a Percentage of GDP Is

question 66

Multiple Choice

If the full-employment deficit as a percentage of GDP is zero in one year, and 1 percent of GDP the next year, it can be concluded that:

• A)fiscal policy is expansionary.
• B)fiscal policy is contractionary.
• C)the federal government is borrowing money.
• D)the federal government is lending money.

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Definitions:

Jobs

In accounting and manufacturing, specific units or batches of work that can be individually costed and tracked.

Administrative Expenses

Costs related to the general operation of a business, which are not directly tied to production or sales, such as salaries of administrative personnel and office supplies.

Patient-Visits

The number of individual patient encounters with healthcare providers, often used as a measure in medical and dental practices.

Spending Variance

The difference between the budgeted or standard cost of an activity and its actual cost.