Which of the following statements is correct?
A. Federal deficits were larger in the early 2000s than in the late 2000s.
B. Deep tax cuts always expand tax revenues and reduce the public debt.
C. The public debt has usually declined during wartime.
D. There is a tendency for the public debt to grow during recessions.
D. There is a tendency for the public debt to grow during recessions.
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Given the level of real GDP, the equilibrium level of the interest rate depends on the
A) demand for money. B) monetary-fiscal policy mix. C) size of the multiplier. D) extent of crowding out.
A change in flour prices shifts the supply curve for bread
Indicate whether the statement is true or false
National income is the sum of all of the following except
A. wages. B. savings. C. interest. D. rent.
The product-variety externality states the benefits to consumers from the introduction of a new product
a. True b. False Indicate whether the statement is true or false