In fiscal year 2014, the U.S. federal budget deficit amounted to about:
a. 1.2% of GDP
b. 3.7% of GDP
c. 4.5% of GDP
d. 10% of GDP
b
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An increase in the interest rate will cause
A) planned investment spending to increase. B) planned investment spending to decrease. C) the investment function to shift out. D) the investment function to shift in.
In contrast to perfect competition, in a monopolistically competitive industry:
a. new firms entering the market produce a good that is identical to the existing ones. b. new firms entering the market produce a completely different product. c. there are legal restrictions on the entry of new firms. d. new firms entering the market produce a close substitute, not an identical or standardized product. e. new firms are allowed to enter the industry but there are legal restrictions on their exit.
If the United States government wants to eliminate an unfavorable balance of trade, it could
a. reduce tariffs b. encourage imports c. reduce quotas on imports d. depreciate the dollar e. increase taxes on exported goods
The theory that there are no predictable trends in securities prices that can be used to "get rich quick" is the
A. inefficient market hypothesis. B. dartboard theory. C. Wall Street theory. D. random walk theory.