The United States became a net international debtor in 1985 for the first time since World War I
Indicate whether the statement is true or false
TRUE
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Besides the fact that the elderly are often on fixed incomes can you think of another reason why most local taxing authorities grant homeowners aged 65 and older school tax exemptions?
What will be an ideal response?
The Federal Reserve System was established
A. at the request of farmers to keep down interest rates. B. because Americans believe in centralization of authority. C. after four severe bank panics between 1873 and 1907. D. as part of the Treasury Department.
List and describe the characteristics of a perfectly competitive market