The federal government debt as a percentage of GDP fell
A) from 1980-1992.
B) from 2002-2007.
C) during the Great Depression.
D) during World War I and World War II.
E) from 1998-2001.
E
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The price of gold should be ________ to the expected inflation rate
A) positively related B) negatively related C) inversely related D) unrelated
A 10 percent increase in the price of tablets leads to a 10 percent decrease in the quantity demanded of tablets. The absolute price elasticity of demand for tablets is
A) 3. B) 0.3. C) 1. D) 10.
When one person knows more than another, it creates a situation:
A. in which the transaction is always regretted. B. called information asymmetry. C. in which the transaction will not occur. D. called information dominance.
It is usually assumed that a perfectly competitive firm's supply curve is given by its marginal cost curve. In order for this to be true, which of the following additional assumptions are necessary? I. That the firm seeks to maximize profits. II. That the marginal cost curve be positively sloped. III. That price exceeds average variable cost. IV. That price exceeds average total cost
a. All of the above. b. I and II but not III and IV. c. I and III but not II and IV. d. I, II and III, but not IV.