What does GGD stand for?
(a) Government's Great Deeds.
(b) General Government Deficit.
(c) General Government Debt.
(d) General Government Defence.
Answer: (b) General Government Deficit.
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As a result of U.S. tariffs on fishnets produced in other nations, the quantity of fishnets purchased in the United States has
A) fallen to zero. B) not been affected. C) increased. D) decreased but not to zero. E) probably changed but whether it has increased or decreased is ambiguous.
The difference between personal income and disposable income is:
A) corporate taxes B) personal taxes C) savings D) none of the above
An increase in the domestic interest rate causes the demand for domestic assets to ________ and the domestic currency to ________, everything else held constant
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
The above figure shows the market for steel ingots. The socially optimal quantity of steel is
A) 0 units. B) 50 units. C) 100 units. D) produced if the market were competitive.