From 2007 to 2009, the federal deficit as a percentage of GDP rose from about 2 percent to about 9 percent. This indicates that by 2009
A. most of the deficit was cyclical.
B. most of the deficit was structural.
C. all of the deficit was cyclical.
D. all of the deficit was structural.
Answer: A
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Refer to Figure 8.2. Holding other variables constant, an increase in the real wage will result in a
A) movement from point A to point B. B) movement from point B to point A. C) shift from curve S1 to curve S2. D) shift from curve S2 to curve S1.
An economic model should capture
A) the essential relationships that help to analyze the problem. B) all possible variables that apply to the problem. C) only social value related variables. D) all of the above.
A cost center is
a. evaluated based on minimizing costs within the division b. evaluated based on maximizing costs within the division c. evaluated based on minimizing profits generated by the division d. evaluated based on maximizing profits generated by the division
Which of the following would increase GDP?
A. People engaging in more "do-it-yourself" projects
B. Additional leisure time
C. More imports
D. Government removing more litter from highway right of ways