We translate nominal income in any past year into constant, real dollars to:
A. allow us to compare changes in purchasing power over time.
B. see what an income we were earning in the past would be equivalent to today.
C. understand what a salary in the past would equal in current dollars to determine how much more we have actually gained in purchasing power.
D. All of these statements are true.
D. All of these statements are true.
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Which of the following statements is TRUE about the difference between the public debt and the government budget deficit?
A) The public debt is a flow measure and the government budget deficit is not a flow measure. B) There is no relationship between the public debt and the government budget deficit since one is a stock measure and the other is a flow measure. C) The public debt always increases while the government budget deficit may increase or decrease. D) The public debt for this year will increase or decrease depending upon whether there is a government budget deficit or a government budget surplus.
As compared to the estimates of the natural rate of unemployment for the United States, those for Europe are
A) higher. B) the same. C) lower. D) higher and more variable.
Explain how tax provisions to encourage private saving may reduce national saving
In 2012, U.S. exports of services ______ U.S. imports of services by about _____.
A. exceeded; $19B B. fell short of; $19B C. exceeded; $196 B D. fell short of; $196B