The equilibrium price is sometimes called the:
A. market-clearing price.
B. maximum price.
C. optimum price.
D. quantity-clearing price.
Answer: A
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An increase in income will lead to an increase in demand for inferior goods.
a. true b. false
The direct cost of debt depends on:
A. the amount of the deficit. B. fiscal policy. C. the implementation lag. D. the interest rate.
The actual budget deficit of the federal government in 2009 was about $1.4 trillion. On the basis of this information, it:
A. can be concluded that the economy was faced with serious inflation in 2009. B. cannot be determined whether the government engaged in expansionary or contractionary fiscal policy in 2009. C. can be concluded that fiscal policy was contractionary in 2009. D. can be concluded that fiscal policy was expansionary in 2009.
What are the economic implications of rising health care costs?
What will be an ideal response?