Where Y is GDP, C is consumption, I is investment, (G ) is government spending, (T ) is net taxes, and there is no international trade, the government budget deficit equals:
A. Y - G.
B. Y + T - G.
C. T - G.
D. G - T.
Answer: D
You might also like to view...
The price elasticity of demand is useful because it measures the responsiveness of _____ to changes in _____.
A) taxpayers; demand B) producers; supply C) consumers; price D) consumers; demand E) producers; income
The United States abandoned the ________ because the government wanted to rapidly expand the money supply in response to the Great Depression
A) managed float B) floating exchange rate system C) Bretton Woods system D) gold standard
The base period for CPI calculations is generally 1982-84. In 2005, 50% of households accessed the Internet through a broadband connection that would not have existed in the 1980s
This potential for bias in the CPI is referred to as ________ bias and results in ________. A) outlet; the CPI overestimating the true change in the cost of living B) outlet; the CPI underestimating the true change in the cost of living C) new product; the CPI overestimating the true change in the cost of living D) net product; the CPI underestimating the true change in the cost of living
When incorporating labor-augmenting technological change into the Solow growth model, the focus is on
A) capital per worker and output per worker. B) capital per effective worker and output per worker. C) capital per worker and output per effective worker. D) capital per effective worker and output per effective worker.