Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year three is ________
A) 165
B) 139.8
C) 85.8
D) 133.6
E) 114.6
E
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Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). Now suppose the domestic government imposes a tariff increasing the domestic price to P3 as shown in Figure (c). This tariff will cause
a. imports to rise.
b. exports to become Qe.
c. the domestic quantity demanded to be satisfied entirely by the domestically quantity supplied.
d. All of the above.
Why might the consequences of imposing a tax on harmful fast foods not adhere to theory?
What will be an ideal response?
From 2007 to 2009, the federal deficit as a percentage of GDP rose from about 2 percent to about 9 percent. This indicates that by 2009
A. most of the deficit was cyclical. B. most of the deficit was structural. C. all of the deficit was cyclical. D. all of the deficit was structural.
In the ________, the tax receipts from today's workers are used to pay benefits to retired and disabled workers and their dependents today.
A. public assistance (welfare) program B. Social Security system C. Medicare and Medicaid programs D. unemployment insurance program