Under alternative scenarios, the national debt as a percentage of GDP is projected to rise dramatically
a. True
b. False
A
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When the natural unemployment rate ________, the short-run Phillips curve shifts ________ and the long-run Phillips curve shifts ________
A) increases; rightward; rightward B) increases; rightward; leftward C) decreases; rightward; rightward D) decreases; leftward; rightward E) increases; leftward; leftward
Apple just announced it will be coming out with the newest model iPhone in the next six months. One could reasonably expect demand for the current model of iPhone to:
A. decrease due to a change in expectations of future prices. B. increase due to a change in expectations of future prices. C. increase due to limited supply of the current model. D. decrease due to the change in price of a substitute good.
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and Px = $10, Py = $20, X = 0, and M = 400?
A. 5 B. 0 C. 20 D. 10
In the United States in 2011, one million BTUs of energy yielded _______ worth of goods and services (in year 2005 dollars)
A. $17.50 B. $57.90 C. $117.37 D. $136.80