Over the past 50 years in the United States, tax revenues as a percentage of GDP have tended to be in the __________________ percent range
A) 1 to 9
B) 10 to 14
C) 15 to 19
D) 20 to 24
E) 25 to 30
C
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When the credit demand curve is relatively flat:
A) the quantity of credit demanded is relatively sensitive to changes in the real interest rates. B) the quantity of credit demanded is relatively sensitive to changes in the taxation rates. C) the quantity of credit demanded is not responsive to changes in the taxation rates. D) the quantity of credit demanded is not responsive to changes in the real interest rate.
If a used car dealer purchases a used car for $3,000, makes repairs and refurbishes it, then sells it for $8,000, the
a. dealer contributes value added equal to $5,000, but nothing is added to GDP. b. dealer contributes value added equal to $5,000, and consequently $5,000 is added to GDP. c. dealer contributes nothing to production because only existing goods are involved. d. dealer contributes value added equal to $8,000, but only $5,000 is added to GDP.
The money market (short-run) equilibrium equation states that the demand for real balances, (L(i)Y) is always equal to the supply of real balances (M/P) because __ adjust(s) to ensure that people are willing to hold the entire stock.
a. nominal interest rates b. real interest rates c. the price level d. nominal GDP
The way the U.S. government borrows money to finance deficits is by the U.S. Treasury selling bills and bonds.
Answer the following statement true (T) or false (F)