Last year a country's real GDP grew by 4%, it's inflation rate was 2.5%, and it's government budget deficit was about $250 billion. It's debt to GDP ratio was unchanged. About what was it's debt at the start of last year?
a. 16.7 trillion
b. 10.0 trillion
c. 6.25 trillion
d. 3.85 trillion
d
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Which of the following measures is used by the Justice Department to evaluate the competitive effects of proposed mergers?
A) The Lerner Index. B) The eight-firm concentration ratio for an industry. C) The four-firm concentration ratio for an industry. D) The Herfindahl-Hirschman Index.
In a perfectly competitive market, firms take:
a. the money wage as exogenous, the price level as endogenous. b. the money wage and price level as exogenous, the quantity of labor as endogenous. c. the money wage and price level as endogenous. d. the quantity of labor as exogenous.
The interest rate effect occurs because a change in interest rates causes a change in the price level
Indicate whether the statement is true or false
If the price of good X decreases, what will happen to the budget line?
A. It will have a parallel shift inward. B. It will have a parallel shift outward. C. It will become flatter. D. It will become steeper.