If in fiscal year 2015, the federal government receives $2.2 trillion in revenues and spends $3.5 trillion for goods and services, the national debt will
a. increase by $2.2 trillion.
b. increase by $1.3 trillion.
c. decrease by $1.3 trillion.
d. decrease by $2.2 trillion.
b
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For each of the following scenarios, state the effect on the debt-to-GDP ratio:
a. The growth rate of the labor force increases. b. The primary deficit increases. c. Total factor productivity decreases. d. Seigniorage decreases. e. The nominal interest rate is constant and the growth rate of the money supply increases. f. The nominal interest rate is not constant and the growth rate of the money supply increases.
Poverty can be eliminated without full employment
Indicate whether the statement is true or false
The income effect of an increase in the wage rate on the quantity of leisure demanded
A. makes leisure less expensive which causes people to work less. B. gives people more purchasing power and causes people to work less. C. gives people less purchasing power and so they will work more. D. makes leisure more expensive which leads people to work more.
Exhibit 3-8 Demand and Supply Data for Video Games ? Price Quantity Demanded of Video Games Quantity Supplied of Video Games $75 400 900 70 450 850 65 500 800 60 550 750 55 600 700 50 650 650 45 700 600 40 750 550 ? In Exhibit 3-8, if there is a surplus of video games of 200 units, the current price of video games must be:
A. $60. B. $50. C. $45. D. $40.