The amount by which government expenditures exceed revenues during a particular year is the:
A. public debt.
B. budget deficit.
C. full employment.
D. GDP gap.
B. budget deficit.
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Romer and Romer found evidence that money is not neutral because
A) in several episodes, such as 1979-1982, changes in monetary policy led to recessions. B) they found that inflation was highly correlated with the rate of growth of the money supply. C) if money were neutral, no one would care what the Fed does. D) they found no evidence that productivity changes or changes in government spending contributed to business cycles; only monetary changes preceded every recession.
Assume that a no-load open-end mutual fund holds securities with a total market value of $12 million, has no liability, and has 500,000 shares outstanding. The net asset value par share of this fund is
A) $24. B) $60. C) $24 million. D) $60 million.
Refer to the accompanying figure. If demand shifts from D1 to D2, and at the same time, supply shifts from S1 to S2, then according to the figure:
A. the equilibrium quantity will increase and the equilibrium price will decrease. B. the equilibrium quantity will decrease and the equilibrium price will decrease. C. the equilibrium quantity will decrease and the equilibrium price will increase. D. the equilibrium quantity will increase and the equilibrium price will increase.
Countries that are authoritarian in nature ______.
a. can pursue policies to increase economic growth b. seldom achieve meaningful economic growth c. become more democratic as their economies grow d. are not interested in economic growth