A _____ is a congressional agreement about total outlays, spending by major category, and expected revenues, which guides spending and revenue decisions by the many congressional committees and subcommittees.
a. continuing resolution
b. budget resolution
c. disclaimer vote
d. filibuster
e. stimulus plan
QUESTION 2The labor force in an economy consists of all:
a. the people in the economy who are not retired.
b. the people in the economy over 16 years of age.
c. the adults in the economy between 18 and 65 years old who are able to work.
d. the civilian noninstitutional adult population that is either working or looking for work.
e. the noninstitutional adult population who are graduates of high school.
QUESTION 3One of the main tools used by economists to measure the actual distribution of income is the:
a. Lorenz curve.
b. Golden Rule.
c. MR = MC rule.
d. MRP = MRC rule.
QUESTION 4The Economic Report of the President is prepared by:
a. the President.
b. Congress.
c. the Office of Management and Budget.
d. the Council of Economic Advisers.
e. the Secretary of the Treasury.
QUESTION 5Which of the following is not a cost of unemployment?
a. A loss of income
b. Emotional or psychological problems
c. Loss of job skills
d. A decrease in production
e. Higher annual inflation rates
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