The structural deficit is extremely sensitive to the performance of the economy
a. True
b. False
Indicate whether the statement is true or false
False
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
The United States has never had deflation
a. True b. False Indicate whether the statement is true or false
Interest payments on the national debt are projected to be about ____% by 2046.
Fill in the blank(s) with the appropriate word(s).
The law of demand states that, holding all else constant:
A. as price falls, quantity demanded rises. B. price has no effect on quantity demanded. C. as price falls, demand will fall also. D. as price rises, demand will also rise.