Suppose a country has a national debt of $5,000 billion, a GDP of $20,000 billion, and a budget surplus of $130 billion. How much will its new national debt be?
A) $5,130 billion
B) $4, 870 billion
C) $15,130 billion
D) $19, 870 billion
Ans: B) $4, 870 billion
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In the foreign exchange market, an increase in the supply of dollars could be the result of
A) an increase in the expected future exchange rate. B) a decrease in the U.S. interest rate differential. C) a decrease in the exchange rate. D) an increase in the exchange rate. E) an increase in the U.S. interest rate differential.
If market participants have rational expectations, then the best forecast of the price of a stock in the next period is
A) equal to an average of the prices of the stock in previous periods. B) equal to the price of the stock in the current period. C) dependent upon all information available in the current period, including, but not limited to, the price of the stock in the current period. D) dependent on information available in the previous period.
All else equal, false advertising is more prevalent in all of the following types of communities except which one?
A) a resort town B) a college campus C) a tourist destination D) a small town with few visitors
When a firm's fixed cost rises, its total profit curve shifts
a. up at every output level. b. down at every output level. c. left at every profit level. d. right at every profit level.