Last year a country's real GDP grew by 2%, it's inflation rate was 3%, and it's government budget deficit was about $200 billion. It's debt-to-GDP ratio was unchanged. About what was it's debt at the start of last year?
a. 10.0 trillion
b. 6.7 trillion
c. 4 trillion
d. None of the above are correct.
c
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Everything else the same, if government expenditure increases by $400 billion and imports increase by $400 billion, then GDP
A) increases by $400 billion. B) increases by $200 billion. C) decreases by $400 billion. D) does not change. E) decreases by $200 billion.
A firm's average total cost is $80, its fixed cost is $1000, and its output is 100 units. Its average variable cost
A) is less than $40. B) is between $40 and $60. C) is more than $60. D) cannot be determined without more information.
Which form of price regulation increases consumer well-being and allows the firm to stay in business?
A. Allow the firm to set its own rate of return. B. Set prices equal to marginal cost. C. Set prices equal to average cost. D. Set lower prices when efficiency improves.
A fall in the real interest rate
A) results in a movement along the demand for loanable funds curve. B) shifts the demand for loanable funds curve rightward. C) shifts the demand for loanable funds curve leftward. D) has no effect on the demand for loanable funds curve