How did the impact of President Obama's fiscal stimulus in 2009 compare to the impact of President Bush's tax cuts and increased defense spending on the structural deficit?
A. President Obama's effect on the structural budget deficit was much higher than President Bush's.
B. The impact on the structural budget was not measured-only the cyclical impact of these policies.
C. President Obama and President Bush's impacts on the structural budget deficit were about equal.
D. President Obama's effect on the structural budget deficit was much lower than President Bush's.
Answer: A
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Refer to the above table. Two countries have per capita real GDPs in 2010 of $5000. If country A has a 4 percent growth rate and Country B a 5 percent growth rate, what will the per capita real GDPs of each be in the year 2060?
A) A: $15,000; B: $30,000 B) A: $40,000; B: $60,000 C) A: $35,550; B: $57,500 D) A: $24,000; B: $35,200
________ a large number of firms competing by making similar but slightly different products
A) Monopoly requires B) Perfect competition requires C) Monopolistic competition requires D) Oligopoly requires E) Both perfect competition and monopolistic competition require
One way tariffs differ from quotas is that
A) tariffs produce revenues for the importing country's government. B) quotas produce revenues for the exporting country's government. C) tariffs produce no revenues but set limits on the imported items. D) tariffs are applied only on raw materials.
In a competitive? market, firms can dictate what the equilibrium price of a good or a service will be.
Indicate whether the statement is true or false.