The U.S. economy is unique for both its size and prosperity.
Answer the following statement true (T) or false (F)
True
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Proponents of zero inflation argue that a successful program to reduce inflation
a. eventually reduces inflation expectations. b. eventually raises real interest rates. c. permanently decreases output. d. permanently raises unemployment.
Suppose the tax rate on interest income from saving were reduced
a. The income effect, but not the substitution effect, would tend to reduce private saving. b. The substitution effect, but not the income effect, would tend to reduce private saving. c. Both the income and substitution effect would tend to reduce private saving. d. Neither the income nor the substitution effect would tend to reduce private saving.
In 2010, the combined expenditures of federal, state, and local governments in the United States were approximately 40 percent of gross domestic product (GDP). Approximately what percentage of GDP were government expenditures in 1930?
What will be an ideal response?
A $100 bond, which matures in one year, has a price of $75. The interest rate on this bond is
A) 20%. B) 25%. C) 33 1/3%. D) 50%.