Interest payments by the government as a share of GDP
A) have steadily increased from the 1940s to the 2010s.
B) remained fairly steady from the 1940s to the 2010s.
C) increased in the 2000s and 2010s, but were fairly steady before that.
D) increased sharply in the 1940s and 1980s.
D
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If consumption spending is the only variable of aggregate expenditure dependent on income, the multiplier is MPC/(1 - MPC)
a. True b. False Indicate whether the statement is true or false
Which of the following best describes the crowding-out effect?
What will be an ideal response?
Objects that have value in themselves and that are also used as money:
a. currency b. commodity money c. representative money d. fiat money
For a firm in a perfectly competitive industry
A) the demand curve is unitary elastic throughout. B) marginal revenue and product price are equal at every level of output. C) the price elasticity of demand is zero. D) more output can be sold only if the firm unilaterally lowers its product price.