The national debt
A) is the sum of all past federal deficits plus any surpluses.
B) grows when the government runs a deficit.
C) grows when government spending increases.
D) is a major problem facing the U.S. government.
Ans: B) grows when the government runs a deficit.
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Refer to Figure 13-2. Ceteris paribus, an increase in productivity would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Underwriting spreads on equity issues are much __________ than on debt issues because stock prices are so __________ relative to bond prices
A) smaller; steady B) smaller; volatile C) larger; steady D) larger; volatile
To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes b. add capital depreciation and Social Security taxes c. add indirect business taxes and personal taxes d. subtract indirect business taxes and capital depreciation e. add indirect business taxes and capital depreciation
A three-word synonym for the term ceteris paribus is
A) "nothing else changes." B) "in my opinion." C) "it is proved." D) "under this assumption."