The budget deficit/surplus projections for 2005 that were made in 2000 were wrong, because there was an
A. anticipated increase in defense spending.
B. unanticipated increase in defense spending.
C. unanticipated increase in interest rates.
D. anticipated increase in immigration.
Answer: B
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Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things remaining the same, we would expect:
A) the price of steel to fall. B) the demand curve for steel to shift to the right. C) the demand curve for plastic to shift to the left. D) nothing to happen to steel because it is only a substitute for plastic. E) the demand curve for steel to shift to the left.
Suppose the economy was in equilibrium, and the national government increased spending by $200 billion. Monetarist theory would predict that:
a. Both consumption and investment will fall, and net exports will rise. b. Consumption will fall, and both investment and net exports will rise. c. Any increase in government spending will be offset dollar for dollar by reduction in private demand. d. In the end, government spending, consumption, investment, and net exports will all settle back to their old position with no net change in any of them.
If a price ceiling of $1.50 per gallon is imposed on gasoline, and the market equilibrium price is $2, then the price ceiling is a binding constraint on the market
a. True b. False Indicate whether the statement is true or false
The type of customization when source code is changed is referred to as a _______
a. Enhancement b. Augmentation c. Modification d. Adaptation