A chart of the ratio of national debt to GDP from 1915 to 2014 would show
A. significant increases from 1945 to 1975.
B. significant increases during World Wars I and II.
C. a larger value in 1975 compared to 1945.
D. significant increases from 1995 to 2003.
Answer: B
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For a common resource, the marginal social cost of the resource is ________ the marginal private cost
A) greater than B) equal to C) less than D) not comparable to
A profit-maximizing firm in a competitive market will continue to hire more workers when
A) the marginal factor cost exceeds the marginal revenue product of the additional workers. B) the marginal factor cost equals the marginal revenue product of the additional workers. C) the marginal factor cost is less than the marginal revenue product of the additional workers. D) the marginal factor cost is less than zero.
For which pair of firms would a merger be horizontal?
a. Avis Rentals and United Airlines b. Rawlings and Nike c. Barnes and Noble and Wordsworth Booksellers d. Starbucks and Baskin and Robbins e. Samuel Adams and Samsonite
Countries that have adopted liberal reforms and substantially increased their economic freedom rating in recent years
a. experienced falling income levels per capita during 1995-2009. b. grew slowly during 1995-2009. c. achieved impressive growth rates of real GDP per person during 1995-2009. d. have grown less rapidly than high income industrial economies.