At the end of 2007, the government had a debt of about $5,000 billion. During 2007, real GDP grew by about 0.8 percent and inflation was about 2.7 percent. About what is the largest deficit the government could have run without raising the debt-to-GDP ratio?
a. 135 billion
b. 143 billion
c. 169 billion
d. 175 billion
d
Economics
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A point on the budget line is affordable to the consumer.
a. true b. false
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The highest-valued alternative that must be given up to engage in an activity is the definition of
A) utility. B) implicit cost. C) opportunity cost. D) economic sacrifice.
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Which nation was not an ally of the United States during World War I?
a. Austria-Hungary. b. Britain. c. France. d. Russia.
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An increase in the minimum wage to $7 would cause ____ million people to lose their jobs.
Economics