Between 1998 and 2001 the federal budget
A. was in balance.
B. was running steadily declining deficits.
C. was running surpluses.
D. ran deficits the first two year that turned into surpluses the last two years.
C. was running surpluses.
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Which of the following statements is (are) correct? The new classical economics
a. questions the soundness of the Keynesian model, arguing that many of its relationships are not firmly based on individual optimizing behavior. b. criticizes what it considers arbitrary assumptions of Keynesians concerning wage stickiness and consequent involuntary unemployment. c. favors the rational expectations assumptions over formulations that assume that individuals form price expectations on the basis of past history of prices because the rational expectations hypothesis is consistent with individual optimizing behavior. d. All of the above e. None of the above
Economists refer to expenditures on training, education, and skill development designed to increase the productivity of an individual as: a. overhead expenditures
b. investments in human capital. c. marginal revenue product. d. investments in social capital.
The market for a particular good is more likely to be local
a. the lower the cost of transporting the good and the greater the ease of communication between buyers and sellers b. the higher the cost of transporting the good and the greater the ease of communication between buyers and sellers c. the lower the cost of transporting the good and the greater the ease of determining the good's quality d. the lower the cost of transporting the good and the more difficult the communication between buyers and sellers e. the higher the cost of transporting the good and the more difficult the communication between buyers and sellers
If the Fed buys more bonds from the public, then the money supply will:
A. Decrease and the aggregate demand curve will shift to the right. B. Increase and the aggregate demand curve will shift to the right. C. Increase and the aggregate demand curve will shift to the left. D. Decrease and the aggregate demand curve will shift to the left.