Between 1945 and 1980, the national debt
a. as a percentage of GDP increased
b. as a percentage of GDP decreased
c. as a percentage of GDP remained relatively constant
d. in dollar terms declined
e. in dollar terms remained constant
B
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Which of the following clearly restricts the competitive market process?
A) Selling below cost B) Selling above cost C) Selling at cost D) Setting a price above marginal cost E) None of the above.
Suppose a wealthy Canadian donates $10 million to charities in Mexico. Mexican net exports ________ and the current account balance ________
A) fall; rises B) rise; rises C) are unchanged; is unchanged D) fall; is unchanged
In an unfettered free market, price is ____ predictor(s) of an event
A) the best B) only of many C) not a very useful D) a marginal
In the aggregate expenditures model, when output (real GDP) is greater than aggregate expenditure (AE) firms will
A. increase planned aggregate expenditure. B. reduce planned aggregate expenditure. C. increase production. D. reduce production.