Suppose in the beginning of 2013, a country has a national debt of $8,000 billion. Its GDP in 2013 is $32,000 billion and its budget deficit of $1,600 billion. Compute its debt-GDP ratio at the end of the year.
A) about 5. 0%
B) about 20,0%
C) about 25.0%
D) about 30%
Ans: D) about 30%
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The major assets on a bank's balance sheet are its
A) checking and savings account deposits. B) loans, and checking and savings account deposits. C) reserves, loans, and checking account deposits. D) reserves, loans, and holdings of securities. E) reserves, checking and savings account deposits.
How can specializing in lending help to reduce the adverse selection problem in lending?
What will be an ideal response?
On this graph, which line(s) represent aggregate expenditure?
a. the line marked Y = AE
b. the line marked AE = C + I + G + NX
c. both lines
d. neither line
An example of a transfer payment is
A) the President's salary. B) unemployment insurance benefits. C) a payment to a defense contractor. D) court costs paid by the defendants in a law suit.