The federal budget deficit:
a. becomes less prominent during and after each recession
b. forces the government to issue Treasury bonds.
c. decreases the growth rate of the U.S. GDP.
d. is common when total federal revenue exceeds total federal outlay.
b
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A measure of overall prices at a particular point in time is called:
A. inflation. B. a relative price. C. the price level. D. a real price.
All successful bidders in a Treasury bill auction pay the __________ price for their bids
A) market-clearing B) highest accepted C) average D) lowest accepted
Positive net exports are treated like domestic investment in the national income accounts because they are
A) always part of inventories. B) fixed assets not intended for resale. C) they represent future flows of real income. D) not intended for resale.
Which of the following is not an advantage of a global currency?
a. International transactions would have fewer transactions costs. b. Travel would be simplified. c. A global currency would foster competition due to increased price transparency. d. All of these are advantages.