"Crowding out" refers to federal government deficits financed by:
a. borrowing which increases interest rates and thereby reduces private spending.
b. increasing taxes which reduces private spending.
c. the federal government buying foreign debt which reduces the amount of government spending and government programs.
d. reducing government spending which reduces interest rates.
a
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Output per worker must be ________ output per person.
A. less than or equal to B. no more than half the size of C. equal to D. greater than or equal to
Workers who dislike risk
A) prefer to be paid a salary rather than a wage. B) prefer a salary system to a commission compensation system. C) prefer to be paid monthly rather than weekly or daily. D) prefer a piece-rate compensation system to a salary system.
The relative price of a unit of cloth in the small isolated country of Moribundia is 5 units of food. When then central city, Mudhole, puts in an airstrip, the country is able to engage in trade
If the relative price of cloth in the outside world is 3 units of food, then Moribundia will export ________ and ________ factors used in the production of ________ will benefit. A) food; immobile; food B) food; mobile; food C) cloth; immobile; cloth D) cloth; mobile; cloth E) food; immobile; cloth
The misperceptions theory was originally proposed by ________ and rigorously formulated by ________
A) Milton Friedman; Robert Lucas B) John Maynard Keynes; Robert Solow C) Edward Prescott; Robert King D) James Tobin; Greg Mankiw