Refer to the data. The public debt declined in year:
Answer the question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt.
A. 6.
B. 5.
C. 4.
D. 3.
A. 6.
You might also like to view...
The proportion of domestic demand for a good that is satisfied by domestic production relative to that supplied by imports is determined by:
a. the interplay of domestic demand and supply curves and the domestic equilibrium price of the good. b. the interplay of demand and supply curves in the international market and the international equilibrium price of a good. c. the interplay of domestic supply and demand curves and the international equilibrium price of a good. d. the different trade restrictions like tariffs and quotas created by the domestic government. e. the interplay of demand and supply curves in the international market and the domestic price of the good
If the firms in a perfectly competitive market are continually operating where their total costs exceed their total revenue in the short run, then in the long run
a. the number of firms in the market will remain unchanged b. the number of firms in the market will increase c. the number of firms in the market will decrease d. existing firms will increase their plant sizes e. existing firms will increase their output
Economists who believe that policy errors are the source of economic instability argue that the crisis of 2008 was primarily the result of
a. housing regulations that undermined sound lending practices and Fed policies that generated the housing boom and bust. b. the stock market crash. c. the actions of speculators who drove up the world price of oil, the domestic price of gasoline, and other energy sources. d. persistently high interest rates during the decade leading up to the crisis.
Based on our understanding of the labor market model presented in Chapter 6, we know that an increase in the minimum wage will cause
A) an increase in the equilibrium real wage. B) a reduction in the equilibrium real wage. C) a reduction in the natural rate of unemployment. D) both B and C