Net interest payments made by the government depend on the total federal debt held and on the level of interest rates
Indicate whether the statement is true or false
TRUE
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Refer to Figure 24-4. In the figure above, LRAS1 and SRAS1 denote LRAS and SRAS in year 1, while LRAS2 and SRAS2 denote LRAS and SRAS in year 2. Given the economy is at point A in year 1, what is the growth rate in potential GDP in year 2?
A) 8% B) 9.1% C) 10% D) 12%
Why might well-educated economists disagree on appropriate public policy in some situations?
Cyndi says to you, "I'm wondering if I should study abroad in France." You studied in Germany two years ago, and found the cost of living (not counting tuition) to be about $5,000 for a semester, so you say, "I bet it will cost you about $5,000, not counting tuition." Your answer demonstrates:
A. anchoring. B. biased expectations. C. using a piece of information loosely related and applying it to your guess. D. All of these statements are true.
Political representation can be understood in all of the following ways EXCEPT ______.
A. formalistic B. substantive C. symbolic D. traditionalistic