The main reason our gross savings rate rose so quickly between 1993 and 2000 was that _________________.
Fill in the blank(s) with the appropriate word(s).
federal government deficits declined and eventually became surpluses
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To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is maximized
Indicate whether the statement is true or false
The productivity speed-up in the United States began in the
A. mid-1970s. B. mid-1980s. C. mid-1990s. D. beginning of 2001.
If everyone were taxed the same absolute amount, say $500, this tax would be considered
a. progressive b. a unit tax c. regressive d. excise e. cooperative
Suppose that product prices start rising but nominal wages do not. In that case,
A. real wages will fall and firms will want to produce more because doing so will be profitable. B. real wages will rise and firms will want to produce more because doing so will be profitable. C. there will be a surplus of goods and services produced. D. there will be a shortage of goods and services produced.