The ratio of debt to GDP in the United States
a. tends to rise during wars.
b. rose during the decade that began in 2001.
c. fell during the late 1990s.
d. All of the above are correct.
d
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The variety that monopolistic competition provides is paid primarily by
A. all consumers whether they desire variety or not. B. the producer whose ability to pass on costs is limited by his demand curve. C. those customers who desire the variety. D. no one because variety costs no more to produce than uniform products cost to produce.
(Last Word) In a cap-and-trade program:
A. government fixes the price of pollution rights and firms choose how many permits to purchase. B. government fixes the maximum amount of a pollutant that firms can discharge and issues permits that firms can buy from and sell to each other. C. each firm is provided a fixed number of permits for a particular pollutant and no individual firm is allowed to acquire additional permits. D. firms can emit whatever type of pollutant they want, so long as the total tonnage does not exceed a government-established quantity.
All of the following can raise wages of union members EXCEPT
A) increasing the demand for non-union made goods. B) increasing the demand for union-made goods. C) limiting union membership over time. D) increasing the productivity of union workers.
Assume that prices and wages adjust rapidly so that the markets for labor, goods, and assets are always in equilibrium
What are the effects of each of the following on output, the expected real interest rate, and the current price level? (a) a temporary increase in taxes (b) a reduction in the effective tax rate on capital (c) an increase in expected inflation