How does inclusion of the current revenues and expenditures of the Social Security trust fund into the budget calculation currently affect the reported budget deficit of the federal government?
a. It increases the reported deficit.
b. It reduces the reported deficit.
c. It exerts no effect on the reported deficit.
d. It increases the deficit during an economic boom but reduces it during a recession.
B
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A demand curve to remain unit elastic along its entire length should
A. cross the X axis. B. touch the X axis but not the Y axis. C. never touch either the X or the Y axis. D. touch the Y axis but not the X axis.
A high HHI indicates that a market may be dominated by one large firm
Indicate whether the statement is true or false
In the 1945 ALCOA antitrust case, the Court found ALCOA
a. not guilty of violating the Sherman Act because it was a good monopoly b. did not have a good reason for having a large market share, so found it guilty c. guilty because its firm size was a per se violation of antitrust laws d. not guilty because it did not engage in any illegal or unfair acts e. was no threat to industrial democracy
One of the potential consequences of the public debt is that it may
A. make income distribution more equitable. B. lead to additional future taxes that reduce economic incentives. C. increase the debt burden of foreign creditors. D. decrease interest rates and increase investment spending.