Which of the following is true of U.S. national debt between 1958 and 2010?
a. Total debt in the U.S. crossed $104 trillion in 2009.
b. Debt as a percentage of GDP was the highest in the year 1978.
c. Net interest payable by the U.S. government was the highest in the year 1990.
d. Interest payment as a percentage of total government spending was the highest in 2009.
e. Net interest payable by the U.S. government crossed $250 billion in 2009.
a
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Sarah is a full-time student who is not looking for work. What kind of unemployment is Sarah experiencing?
A) frictional B) cyclical C) structural D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force.
The Herfindahl-Hirschman Index is one factor used to determine whether a merger between two firms should be allowed. Which of the following statements regarding the value of the Index for a given industry is true?
A) If a merger resulted in an Index of between 1,000 and 1,800, the industry would be considered competitive and the merger would not be challenged. B) If a merger would result in an Index value of 1,000 or more, the industry would be considered a monopoly and the merger would be challenged. C) If a merger would result in an Index value less than 1,000, the merger would not be challenged. D) If a merger would increase the Index by 100, the industry would be considered a monopoly and the merger would be challenged.
The two neighbors of the United States do a lot more trade with the United States than European economies of equal size
A) This contradicts predictions from gravity models. B) This is consistent with predictions from gravity models. C) This is irrelevant to any inferences that may be drawn from gravity models. D) This is because these neighboring countries have exceptionally large GDPs. E) This relates to Belgium's trade record with the U.S.
Under what circumstances would a voter rationally choose to be ignorant rather than informed of the public choices at hand in an election?
a. When the benefit consumers anticipate from becoming informed and voting exceeds the cost. b. When information and the time required to acquire and digest it are scarce, consumers concentrate on public choices rather than private choices. c. When information and the time required to acquire and digest it are scarce, consumers concentrate on private choices rather than public choices. d. When the anticipated benefit from voting to consumers is lower than the cost.