Measured as a share of GDP, the total federal debt
a. increased during the 1990s, but it has declined substantially during the most recent decade.
b. increased substantially during the recession of 2008-2009, but it is still well below the levels of the 1960s and 1970s.
c. has steadily trended downward during both the 1990s and the most recent decade.
d. is now approximately 100 percent of GDP, which is higher than at any time since the years immediately following World War II.
D
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The value of leisure time is
A) included in GDP and, in recent years, has become an increasing large part of GDP. B) excluded from GDP. C) zero. D) directly included in GDP but, in recent years, has become a decreasing large part of GDP. E) directly included in GDP and, in recent years, has not changed much as a fraction of GDP.
For assessing whether or not and how much of an asset to hold, the important consideration is the asset's amount of
A) diversifiable risk. B) nondiversifiable risk. C) relative risk. D) absolute risk.
If a nation's government determines that consumption of cigarettes should be discouraged, then this means that the government has judged cigarettes to be a(n)
A) government-sponsored good. B) exclusive good. C) government-inhibited good. D) public good.
What 3 macroaggregates that economists use to assess the health of an economy?
What will be an ideal response?