Which of the following statements best describes the U.S. budget scenario from World War II until about 1980?
a. During this period, the United States ran budget deficits almost every year, but the percentage increases in debt were smaller than the percentage growth of GDP, so the debt/GDP ratio declined.
b. During this period, the United States ran budget deficits almost every year, but the percentage increases in debt were larger than the percentage growth of GDP, so the debt/GDP ratio increased.
c. During this period, the United States ran budget deficits almost every year, the percentage increases in debt were larger than the percentage growth of GDP, yet the debt/GDP ratio declined.
d. During this period, the United States ran budget deficits almost every year, the percentage increases in debt were smaller than the percentage growth of GDP, yet the debt/GDP ratio increased.
a. During this period, the United States ran budget deficits almost every year, but the percentage increases in debt were smaller than the percentage growth of GDP, so the debt/GDP ratio declined.
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Briefly state several reasons for the decline in sales for McDonald's in 2001-2002
What will be an ideal response?
If a goal of a nation's residents is to increase marginal productivity, they should increase
A) expenditures on education. B) the inheritance tax. C) exports. D) the marginal propensity to consume.
The United States was running a large balance-of-trade deficit
a. during the Depression years of the 1930's. b. in the years following World War II. c. in the early 1960's. d. from the late 1970's through the 1990's.
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except:
A. sell foreign currency resulting from the exports of manufactured t-shirts. B. sell foreign currency resulting from the sale of a U.S. treasury bond. C. purchase foreign currency in order to import a BMW. D. purchase foreign currency in order to purchase a U.S. treasury bond.