When measured as a percentage of GDP, the U.S. national debt reached its highest levels as a result of:
a. World War II.
b. the Vietnam War.
c. the Bush economic recovery program.
d. the Reagan defense buildup and tax cut.
a
You might also like to view...
The U.S. economy is the largest in the world. What two factors primarily explain this? What makes the U.S. economy unique?
What will be an ideal response?
What is meant by a "discriminating monopolist"?
a. The firm discriminates on the basis of hiring workers. b. The firm violates all antitrust laws. c. The firm evades taxes. d. The firm sells its product at different prices in different markets.
Suppose that the demand curve for wheat is downward sloping and the price per bushel increases from $4.50 to $5.50. We would expect:
a. The demand for wheat to increase b. The quantity demanded of wheat to decrease c. The quantity demanded of wheat to increase d. Producers to reduce the number of bushels produced
On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic B. less elastic C. equally elastic D. There is insufficient information in the question.