Recessions have contributed to the public debt by:
A. increasing the international value of the dollar.
B. increasing real interest rates.
C. increasing national saving.
D. reducing national income and therefore tax revenues.
Answer: D
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The Consumer Price Index (CPI) differs from a chain-weighted price index in that the CPI
A) compares the prices of all goods in one year to the prices of all goods in other years. B) measures the costs of a typical fixed basket of goods over time, while the chain-weighted index does not. C) requires calculation of GDP, while the chain-weighted index does not. D) allows for the goods consumed in an economy to change over time, while the chain-weighted index does not.
In the figure above, suppose the original budget line is BD. A fall in the price of a compact disc will
A) rotate the budget line to AD. B) rotate the budget line to CD. C) not move the budget line. D) result in a parallel leftward shift of the budget line.
The various quantities of all final commodities demanded at various price levels, ceteris paribus, is the
A) LRAS. B) production possibilities curve. C) aggregate demand curve. D) aggregate supply curve.
Which of the following statements about labor unions and management during the 1940s is most accurate?
a. The real earnings of workers increased significantly during World War II. b. During World War II there were many strikes. c. There were few strikes during World War II because management frequently locked-out labor before the employees could strike. d. Immediately following the end of the war was a period of significant earnings growth for labor union members.