Which of the following statements is true?
A. Both the debt and the deficit or surplus are flow measures.
B. The debt is a flow measure and the deficit or surplus is a stock measure.
C. The debt is a stock measure and the deficit or surplus is a flow measure.
D. Both the debt and the deficit or surplus are stock measures.
Answer: C
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The government (G) category of gross domestic product (GDP) excludes welfare and other transfer payments
a. True b. False Indicate whether the statement is true or false
If the value that people, on average, receive from a common property exceeds the marginal cost of its use, then
a. more people will use the common property. b. social gain is as large as possible. c. the common property creates zero economic rent. d. demand for the common property will fall.
During 2007, many "subprime" and "Alt-A" borrowers began to default on their mortgages. Describe "subprime" and "Alt-A" borrowers
What will be an ideal response?
By far the largest real government budget deficits measured as a percentage of natural real GDP occurred during
A) World War I. B) the Great Depression. C) World War II. D) the late 1960s. E) the late 1980s and early 1990s.