If the federal government were to run a budget deficit, this would:
A. increase the size of the national debt.
B. reduce the size of the national debt.
C. leave the size of the national debt unchanged.
D. increase the national debt only if the government also expands the supply of money.
Answer: A
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When a good is put onto the global market at a price below the cost to produce it, this is known as
A) the infant-industry argument. B) dumping. C) a quota. D) protection of domestic jobs.
As a result of ________, the incomes of the top 1% of income earners during the 1970s were understated.
A. the rapid decrease in the proportion of Americans filing tax returns B. the special tax treatment of capital gains C. the increase in consumption levels D. the expansion of the non-refundable ETIC
Suppose that the price of a hamburger is $3. Victoria is willing to pay $5 for the first hamburger, David is willing to pay $4 for the second hamburger, Kelly is willing to pay $3 for the third hamburger, and Antony is willing to pay $2 for the fourth hamburger. In equilibrium, what is the number of hamburgers purchased?
A. 3 B. 1 C. 2 D. 4
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.