The real deficit is $180 billion; inflation is 4 percent; total debt is $4.5 trillion. The nominal deficit is:
A. zero.
B. $1 billion.
C. $360 billion.
D. $180 billion.
Answer: C
You might also like to view...
Security personnel are an important input into the production of major concerts, such as Lady Gaga, and Jay Z & Kanye West. If wages for security personnel rise, then we would expect
A) the supply of major concerts to be unaffected. B) the supply of major concerts to decrease. C) the supply of major concerts to increase. D) the demand for major concerts to increase.
How will an increase in labor productivity affect equilibrium in the labor market?
A) The demand for labor will increase and the equilibrium wage and quantity of labor will increase. B) The demand for labor will decrease because fewer workers will be needed to produce the same output. The equilibrium wage and quantity of labor will decrease. C) The supply of labor will increase and the equilibrium wage and quantity of labor will increase. D) The demand for jobs will increase and the equilibrium wage and quantity of labor will increase.
If a firm in a perfectly competitive market is producing at a level of output where marginal costs exceed marginal revenue, its profits:
A. must be negative. B. will increase if it produces less. C. are maximized. D. cannot be determined.
Many economists believe that a family bases its spending decisions on its permanent, or average, income rather than on transitory income
a. True b. False Indicate whether the statement is true or false