The sum of past federal budget deficits is the:
a. Congressional debt.
b. GDP debt.
c. national debt.
d. trade debt plus GDP.
c
You might also like to view...
During World War II, the increasing productivity of workers who built ships was due primarily to
A) human capital accumulation through schooling and training. B) human capital accumulation by repeatedly doing the same tasks. C) discoveries of new and better technologies. D) investments by shipyards in new capital equipment.
In Econland total output is $8 billion, population equals 500,000 people, and, of these, 400,000 are employed workers. Output per person in Econland equals ________ and average labor productivity equals ________.
A. $20,000; $20,000 B. $16,000; $20,000 C. $20,000; $16,000 D. $16,000; $16,000
Refer to the above diagram. The economy is at equilibrium at point C. What fiscal policy would increase real GDP?
A. Increase aggregate demand from AD1 to AD2 by increasing government spending. B. Make no change because the economy is at or near its full-employment level of real output. C. Increase aggregate demand from AD2 to AD1 by decreasing taxes. D. Decrease aggregate demand from AD2 to AD3 by increasing taxes.
Extreme monetarists assert that changes in the money supply
A. Affect prices and the unemployment rate. B. Can affect only real GDP. C. Can affect only the price level. D. Affect prices and real GDP.