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The law of ____________________________ explains why people and societies rarely make all-or-nothing choices.

Marginal cost is:

True or False.  The U.S. economy has come to rely much more heavily on industry-funded research and development. 

True or False.  The long-term budget forecast is for a budget surplus due to the baby boomer generation retiring.

The 12 regional Fed banks do all of the following except:

If we describe the business cycle starting from the top, descending, hitting the bottom and ascending this pattern illustrates what order in the business cycle?

True or False.  Even though there is controversy over economic goals in terms of monetary policy, the Fed has pursed inflation-targeting.

The 12 regional Fed banks do all of the following except:

If the population of a country is 1,000,000 people, its labor force consists of 500,000, and 40,000 people are unemployed, the unemployment rate is: (Enter you value as a numeric percentage with no percentage sign)

True or False. Public policies to assist the unemployed as it relates to the supply side of the labor market affect the willingness of firms to hire.