Through the 1970s, 1980s and 1990s, the states ran substantial budget ____________.
Fill in the blank(s) with the appropriate word(s).
surpluses
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If the government owns a nationalized firm, the prices are
a. set by an administrative agency of the government b. set by the free market c. high enough to make economic profits for the government d. determined by competition e. set to encourage efficiency and reduce waste
The burden of the internal portion of the debt is incurred
A. Solely by the U.S. government. B. When the debt comes due. C. When the debt-financed activity takes place. D. None of the choices are correct.
GDP cannot be used for international comparisons because
A. countries differ in the share of economic activity done in organized markets. B. countries are similar in the skills of the labor force. C. countries differ in population statistics. D. countries differ in political structure.
Which of the following is a potential problem at macro equilibrium?
A. A shortage of goods exists. B. A surplus of goods exists. C. The economy is permanently stuck there. D. It is inconsistent with the macroeconomic goals.