The following is budget information for a hypothetical economy. All data are in billions of dollars.
Refer to the above table. Assume that Year 1 is the first year for this economy and Year 5 is the current year. What is the public debt in this economy at Year 5?
A. $25 billion
B. $75 billion
C. $125 billion
D. $925 billion
C. $125 billion
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The interest rate banks charge other banks for overnight loans is
A) the federal funds rate. B) targeted by the FDIC. C) higher than interest rates for securities and loans. D) lower than interest rates for loans, but higher than interest rates for securities.
A compensation structure that generates much higher pay rates for the top performers, while those whose productivity is only a little lower receive substantially less compensation, is called
a. tournament pay. b. competing differentials. c. dueling executives. d. winner take all.
Suppose that the wage paid to workers who detassel corn rises. What happens in the market for workers who weed soybean fields, given that workers who detassel corn can easily work weeding soybean fields?
a. The demand curve for soybean workers increases. b. The demand curve for soybean workers decreases. c. The supply curve for soybean workers increases. d. The supply curve for soybean workers decreases.
When a country imposes an import quota, its
a. net exports rise and its real exchange rate appreciates. b. net exports rise and its real exchange rate depreciates. c. net exports fall and its real exchange rate depreciates d. None of the above is correct.