Total debt is more important in figuring out the ability of a country to service its debt than are debt to GDP and debt to export ratios
Indicate whether the statement is true or false
FALSE
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At long-run macroeconomic equilibrium, ________
A) an inflationary gap exists B) real GDP equals potential GDP C) a recessionary gap exists D) real GDP is less than potential GDP but is as close as it is possible to be
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for tuna. Which panel best describes what happens in this market when there is a decrease in the productivity of commercial fishermen?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Why was the recovery from the 2008–2009 recession so slow?
What will be an ideal response?
Inventories refer to
A) goods that have been planned but not yet produced. B) goods that have been produced and sold in the same year. C) goods which have been presold before they are produced. D) goods that have been produced but not yet sold.