Which of the following statements about the public debt is TRUE?
A) It is equal to the budget deficit.
B) It decreases when the government runs a budget deficit.
C) It is a stock variable.
D) all of the above
C
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If the U.S. dollar becomes weaker in international foreign exchange markets, imported goods become more expensive. One result of this is that
A) domestic employment rises. B) net exports increase. C) real Gross Domestic Product (GDP) increases. D) net exports decrease.
A simplified representation of the real world that is used to explain economic phenomena is a(n)
A) viewpoint. B) model. C) assumption. D) implication.
Which of the following best explains why the chained consumer price index generally results in a lower rate of inflation than the regular consumer price index?
a. The chained index is based on a comprehensive bundle of goods and services, while the regular CPI considers only changes in the prices of food and energy. b. The chained index makes allowance each month for shifts away from goods that have become relatively more expensive; the regular CPI does not adjust for this factor. c. The chained consumer price index considers the impact of both rising and falling prices, whereas the regular consumer price index considers only the impact of goods and services with rising prices during the period. d. The chained consumer price index considers only the prices of goods and services purchased by households, whereas the regular CPI also includes the price changes of investment assets such as stocks and real estate.
Price-fixing is considered to be a per se violation of the antitrust laws because:
A. a guilty verdict requires proof of injury to consumers. B. a guilty verdict requires proof of injury to other competitors. C. the rule of reason is applicable. D. a guilty verdict need only show that there was a conspiracy to fix prices, not that it succeeded.