Which of the following is true concerning the national debt?
a. It equals the budget deficit.
b. When the budget deficit is declining, the national debt will fall.
c. A budget deficit will reduce the national debt.
d. A budget surplus will reduce the national debt.
D
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Most of the world's nations went off the gold standard in the year __________.
Fill in the blank(s) with the appropriate word(s).
In year 2008, 1334 million lbs of milk was produced and sold in U.S. This is
A) the decision of the U.S. department of agriculture. B) quantity determined by the interactions in the market. C) the maximum amount the producers could produce. D) what consumers needed.
If real GDP increases and the price index also increases: a. nominal GDP must also have risen
b. nominal GDP must have fallen. c. nominal GDP could have either risen or fallen. d. the percentage increase in nominal GDP must have been greater than the percentage increase in the price level.
National defense is an example of a public good.
Answer the following statement true (T) or false (F)