During the period from 1945 to 1975, the debt to GDP ratio
a. remained steady.
b. rose slightly.
c. increased rapidly.
d. fell steadily.
d
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In order to draw an individual's budget line, we must know
A) prices and preferences. B) prices and income. C) income and preferences. D) prices, income, and preferences.
Suppose on any given day the prevailing equilibrium federal funds rate is below the Federal Reserve's federal funds target rate
If the Federal Reserve wishes for the federal funds rate to be at their target level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10. Considering the information in the table shown, if Jack's income to spend on these two items were to increase to $16:
A. he could afford to buy 16 popsicles and 8 ice cream cones. B. he could afford to buy either 16 popsicles or 8 ice cream cones. C. he could afford to buy 8 ice cream cones and 4 popsicles. D. None of these is true.
Looking at the relationship between elasticity and total revenue, we can see that ____
a. b and c b. when demand is unit elastic, small price changes don't change total revenue c. when a good is price inelastic, revenue increases when prices increase d. when a good is price elastic, revenue increases when prices increase e. total revenue is maximized when the elasticity has stopped changing