The federal government
a. runs a deficit when tax revenues are greater than government purchases.
b. runs a surplus when tax revenues are smaller than government purchases.
c. runs a deficit when tax revenues are greater than government outlays.
d. runs a surplus when tax revenues are greater than government outlays.
e. runs a surplus when tax revenues are smaller than transfer payments..
D
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From 1970 to 2010, as a fraction of GDP, the quantity of money that people and businesses have held has been
A) independent of people's use of credit cards. B) increasing. C) decreasing. D) fluctuating erratically. E) changing only as the interest rate changed.
Find the natural rate of unemployment from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000
a. 17.5 percent b. 23.3 percent c. 24.6 percent d. 28.8 percent e. 38.3 percent
If the reserve ratio is 12.5 percent, then $5,600 of money can be generated by
a. $64 of new reserves. b. $448 of new reserves. c. $700 of new reserves. d. $800 of new reserves.
If the slope of a straight line is 4 and if X (the variable on the horizontal axis) increases by 12, then Y (the variable on the vertical axis) will
A. decrease by 3. B. increase by 3. C. increase by 48. D. decrease by 0.33.