Since 1980, the public debt has
A. declined absolutely, but has remained constant as a percentage of the GDP.
B. grown absolutely, but declined as a percentage of the GDP.
C. declined absolutely and as a percentage of the GDP.
D. grown absolutely and as a percentage of the GDP.
D. grown absolutely and as a percentage of the GDP.
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Suppose that wages and prices are quite flexible, so that the short-run aggregate supply curve is steep. In that case, ________
A) policies to stabilize inflation are probably needed more than policies to stabilize economic activity B) supply shocks will destabilize inflation, but have minimal impact on output C) demand shocks will destabilize output, but have minimal impact on inflation D) all of the above E) none of the above
Suppose Atlas Publishing, a perfectly competitive firm, currently produces 2,000 maps per day at a total cost of $1,600 . At its current level of output, Atlas is producing where the marginal revenue curve intersects a rising marginal-cost curve. Which of the following can be concluded about Atlas Publishing?
a. It is maximizing profit. b. It should produce more to maximize profit. c. It is incurring losses. d. It should produce less to maximize profit. e. It should produce more to break-even.
The president of the AFL from the late 1880s until his death in 1924 was
A. Robert Wagner. B. James R. Hoffa. C. Leon Trotsky. D. Samuel Gompers.