What makes it possible for a country to maintain a constant debt-to-GDP ratio and still have continual deficits is:
A. positive private savings.
B. trade surpluses.
C. real economic growth.
D. continual inflation.
Answer: C
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All of the following statements are examples of positive economic analysis except
A) as the unemployment rate decreases, fewer people are willing to relocate to find jobs. B) as the economy improves, more workers from other countries are migrating to the United States. C) exports from the United States should be increased to offset the growing number of imports into the United States. D) the U.S. economy is growing at a slower rate than the economy of Brazil.
The unemployment rate equals the number of unemployed divided by the ________, all times 100
A) labor force B) total population C) number of employed D) working-age population
Judging from this graph, what would the individual firm charge if it increased its output to 400 bushels of wheat?
a. $3
b. $4
c. $5
d. $6
Which of the following describes that people cannot examine every possible choice available to them but instead use simple rules of thumb to sort among the alternatives that happen to occur to them?
A. normative economics B. ceteris paribus C. self-interest D. bounded rationality