As long as debt grows by the same percentage as nominal GDP, the debt-to-GDP ratio will stay constant but the interest payments-to-GDP ratio will increase
a. True
b. False
B
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The figure above shows that as a result of the tariff, the quantity of T-shirts produced in the United States ________, and the quantity of T-shirts imported ________
A) increases by 15 million per year; decreases by 30 million per year B) increases by 15 million per year; increases by 15 million per year C) decreases by 15 million per year; decreases by 30 million per year D) decreases by 30 million per year; increases by 30 million per year E) does not change; decreases by 15 million per year
What does a market do poorly?
A. Incentivize individuals to efficiently use society’s resources B. Price labor based actually on marginal productivity C. Promote equal income distribution D. Allocate resources to their highest value uses
Which of the following is most likely to lead to demand-side inflation?
A. An increase in government spending B. A decrease in taxes C. An increase in the money supply D. All of these responses are correct.
Who said, "We might as reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper" as whether price is set by demand or supply?
A. Thomas Carlyle B. Alfred Marshall C. Adam Smith D. Edward Scissorhands