Would you regard this outcome as a success?

Define recession, and discuss the impact of recessions on workers and businesses
December 25, 2020
Categorise and identify the nature of various types of costs, cost objects and cost behaviours and use cost estimation techniques to develop cost functions.
December 25, 2020

1.       Explain how the budget deficit affects the economy in the short run and in the long run.

2.       Identify whether each of the following government expenditures is a payment for goods and services or a transfer payment. (LO11-1) a) A local public school hires a new teacher. b) Medicare pays for a knee replacement for a 66-year-old. c) A poor family gets food stamps. d) The local Social Security office buys a new computer.

3.       Suppose the job multiplier is 0.7. The government hires 2,000 workers.  a) How much does total employment rise or fall? b) How much does private-sector employment rise or fall? c) Would you regard this outcome as a success?