Refer to the data. A budget surplus occurred in year:
Answer the question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt.
A. 2.
B. 3.
C. 4.
D. 6.
D. 6.
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Reorganization of the airline industry came in two waves, one led by large long-established airlines and the other led by new entrants to the industry
Indicate whether the statement is true or false
As long as an item has never been sold, its value is counted in GDP for the year in which it is finally sold.
Answer the following statement true (T) or false (F)
Refer to the figure below. Suppose the original before-tax demand curve for CD players is P = 100 - 2Q d . Suppose further that supply is P = 5 + 3Q s . Now suppose a $5 unit tax is imposed on consumers.
(A) What is the before-tax equilibrium price and quantity?
(B) What is the after-tax equilibrium price and quantity?
(C) How much tax revenue is raised?
In the periods 1995-2001 and 2001-2011, U.S. real GDP grew at the average annual rates of about:
A. 3.8% and 1.7%, respectively B. 1.7% and 3.8%, respectively C. 8.7% and 6.2%, respectively D. 6.2% and 8.7%, respectively