Which statement is true?
A. Nations should strive for self-sufficiency.
B. The U.S. balance of trade has always been positive.
C. Our biggest trade deficit was a little over $150 billion.
D. Our balance of trade turned negative in the mid-1970s.
D. Our balance of trade turned negative in the mid-1970s.
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Which of the following would tend to increase AD?
a. a commercial bank using excess reserves to extend a loan to a customer b. a commercial bank purchasing U.S. securities from the Fed as an investment c. an increase in reserve requirements d. an increase in the discount rate
The Social Security system of the United States is based on the pay-as-you-go principle. This indicates that funding of the benefits paid to current retirees comes primarily from
a. the income generated by the system's ownership of stock. b. the tax payments of current workers. c. the funds that current retirees paid into their personal savings accounts during their working years. d. money created by the Federal Reserve system.
GDP per capita is
A. Investment as a percentage of GDP. B. The same as GDP per worker. C. Total GDP divided by total population. D. The population divided by total GDP.
The fact that we are operating at a point inside a bowed out production possibilities frontier indicates there is
A. scarcity. B. increasing opportunity cost. C. unemployment. D. constant opportunity cost.