Economists usually suggest that the best way to examine the deficit is by expressing it:
A. in nominal terms.
B. as a percentage of GDP.
C. in real terms.
D. None of these is true.
Answer: B
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Which of the following is true?
A. Twenty-five percent of Americans were officially unemployed in 1933. B. The United States' economy expanded steadily from 1933 to 1937. C. Once the Great Depression began in 1929, the United States' economy moved steadily downhill until 1933. D. All of the choices are true.
Suppose that private saving is $1590 billion, investment is $1945 billion, and the current account balance is -$489 billion. From the uses-of-saving identity, how much is government saving?
A) -$134 billion B) -$844 billion C) $844 billion D) $134 billion
Generally speaking, firms _____ of their capital assets
a. prefer straight-line depreciation b. prefer accelerated depreciation c. are indifferent between straight-line and accelerated depreciation d. prefer not to depreciate
Goods that are income elastic are often referred to as luxury goods
Indicate whether the statement is true or false