Which of the following is true?
a. The size of the national debt currently is about the same size as it was during World War II.
b. The national debt increases in size whenever the federal government has a surplus budget.
c. The national debt's size decreased steadily after 1980.
d. The current U.S. national debt is over $16.0 trillion.
d
You might also like to view...
The Rule of 70 can be used to calculate the
A) 70 percent level of the economic growth rate. B) population growth rate per year. C) economic growth rate per year. D) economic growth rate per month. E) number of years it would take for the level of any variable to double.
A decline in autonomous planned investment spending causes the equilibrium level of aggregate output to ________ and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
Because of a major hurricane, gross domestic product for the first quarter of the calendar year falls by 10 percent. As a result, gross domestic income
A. also falls by 10 percent because they always have to be equal. B. falls by more than 10 percent because incomes always vary more than GDP. C. falls by less than 10 percent. D. would not change since the time span is less than a year.
The earnings of most people
A) increase steadily until retirement. B) increase with age until around age 50 due to increased experience, training, and hours worked. C) increase with age until around age 40 due to increased experience and hours worked. D) increase with age until around age 60 due to increased experience, training, and hours worked, then level off as hours worked levels off.