Compared to Italy and Japan in recent years, the debt as a percentage of GDP in the US is
A. roughly equal.
B. substantially greater.
C. substantially smaller.
D. slightly smaller.
Answer: C
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If high level of corruption in a country deters foreign investment in worthy projects, this is known as
A) portfolio investment. B) moral hazard. C) foreign direct investment. D) adverse selection.
The law of demand indicates that as the price of a good increases:
a. suppliers sell less of it. b. suppliers sell more of it. c. buyers buy less of it. d. buyers buy more of it.
Several studies in the 1990s concluded that the consumer price index overstated inflation by about
a. 3 percentage points per year, and that number of percentage points likely still applies now. b. 3 percentage points per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 3 percentage points. c. 1 percentage point per year, and that number of percentage points likely still applies now. d. 1 percentage point per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 1 percentage point
Ceteris paribus, or "all other things held constant", is an assumption that had which of the following effects on a demand schedule?
a) It takes only prices into account b) It considers the effects of all possible changes on demand c) It is accurate no matter what changes occur d) It is accurate at only one price level