Which statement about the United States at present is false?
A. We have the world's largest economy.
B. The United States' federal deficits have been at record highs for the last few years.
C. The Social Security and Medicare trust funds are safe for at least the next two generations.
D. We are borrowing almost $2 billion a day from foreigners to finance the United States' trade and budget deficits.
C. The Social Security and Medicare trust funds are safe for at least the next two generations.
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If the depreciation rate in an economy is 10%, and the capital stock in the economy is $1,000, the level of investment required to keep the economy at a steady state is equal to:
A) $110. B) $1,000. C) $250. D) $100.
When U.S. real GDP increases, U.S. imports
A) increase by more than the change in real GDP. B) decrease by less than the change in real GDP. C) decrease by the same amount. D) increase by less than the change in real GDP. E) increase by the same amount.
People with fixed incomes fare best in an inflationary period
a. True b. False Indicate whether the statement is true or false
What are the two essential functions banks perform for the economy, and why are they important?
What will be an ideal response?