Refer to the table above. The government sector balance is a
A) $900 billion surplus.
B) $500 billion deficit.
C) $2,900 billion trade deficit.
D) $2,900 billion balanced budget.
E) $900 billion deficit.
A
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Define allocative efficiency. Explain the significance of this concept in economics?
What will be an ideal response?
The marginal propensity to consume measures the ratio of the:
a. average amount of our disposable income that we spend. b. average amount of our savings that we spend. c. change in consumer spending to a change in money holdings. d. change in consumer spending to a change in interest rates. e. change in consumer spending to a change in disposable income.
The Fed can increase the federal funds rate by
A) selling government securities which increases bank reserves. B) selling government securities which decreases bank reserves. C) buying government securities which increases bank reserves. D) buying government securities which decreases bank reserves.
Which of the following is NOT provided in the textbook as something that might lead to the creation of a new market?
A. New laws B. New buyers C. New sellers D. New services