If the deficit is 0.08 times GDP, the existing debt—GDP ratio is 0.8, and the growth rate of nominal GDP is 0.05, then the change in the debt—GDP ratio is
A) +0.08
B) +0.04.
C) 0.
D) -0.08.
B
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The marginal product refers to the impact of which unit of a productive resource?
a. first b. middle c. last d. average
The colonies as a whole had a significant commodity trade deficit with England. In order to finance this deficit the colonies relied on all of the following sources of income except
a. a commodity trade surplus with Southern Europe. b. the sale of colonial shipping services. c. mining of gold and silver that were used to make Colonial coins. d. British government spending in the colonies.
The CPI measures the average level of prices of all final goods and services produced in the economy
a. True b. False Indicate whether the statement is true or false
If the demand curve fails to capture all of the benefits of consumption, then the:
A. government needs to impose regulations that require more consumption. B. equilibrium price will be efficient but the equilibrium quantity will be inefficiently large. C. equilibrium price will be inefficiently high. D. equilibrium price will be inefficiently low.