The net national savings rate for the United States, compared with that of other industrial nations is
A. much higher.
B. a little higher.
C. lower.
C. lower.
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The figure above shows a perfectly competitive firm. The firm is operating; that is, it has not shut down. The firm produces
A) 20 units of output and makes zero economic profit. B) 20 units of output and incurs an economic loss. C) 10 units of output and makes zero economic profit. D) 10 units of output and incurs an economic loss.
Lerner's view on debt financing is
A. Future generations bear a burden of external debt. B. Burden of debt can be transferred across generations. C. Internal debt creates no burden for the future generations. D. Government debt crowds-out the available funds for private sector.
The proposition that the Fed should concentrate on price stability rather than reducing unemployment is
A. generally accepted by politicians, although few economists accept this proposal. B. largely accepted by most economists, although politicians do not agree. C. highly debatable because many do not agree that price stability should be the most important goal. D. simply incorrect, and no one accepts this idea anymore.
Steadily improving improvements in technology, other things being equal, will result in
A. persistent deflation B. a steadily falling price level with no change in output. C. no change in the price level and steadily increasing output. D. steadily rising price level (inflation) and steadily increasing output.