Interest payments by the government as a share of GDP
A. increased sharply in the 1940s and 1980s.
B. increased in the 2000s and 2010s, but were fairly steady before that.
C. have steadily increased from the 1940s to the 2010s.
D. remained fairly steady from the 1940s to the 2010s.
Answer: A
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Macroeconomics is the study of individual economic markets
Indicate whether the statement is true or false
If Congress raised taxes on businesses, this action would:
A. increase per-unit production costs and thus decrease aggregate supply. B. increase aggregate demand and increase aggregate supply. C. increase per-unit production costs and thus increase aggregate supply. D. increase per-unit production costs and thus increase aggregate demand.
One reason trade restrictions exist is that:
A. workers cannot be shifted easily from one industry to another. B. the long-run gains from free trade are small relative to the short-run costs. C. the short-run gains from free trade are small relative to the long-run costs. D. workers can be shifted easily from one industry to another.
Strong rule-of-law countries grow more rapidly than weak rule-of-law countries. What factor will most likely improve economic growth in weak rule-of-law countries?
A. corruption B. capitalism C. political reform D. communism