For the United States, from the 1980s to today, there has been an increase in both absolute size and relative size (relative to GDP) for the federal government in
A. Neither the deficit nor the debt.
B. The debt, but not the deficit.
C. The deficit, but not the debt.
D. The deficit and the debt.
Answer: D
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When we keep part of our wealth in a bank checking account, we are using money as a ________ because ________
A) store of value; we are holding the money to exchange for goods at a later time B) medium of exchange; we are holding the money to gain interest earned C) barter token; we are holding the money to exchange for goods at a later time D) unit of account; we are holding the money to exchange for goods at a later time E) unit of currency; we have agreed upon the value of the money with bank
What will a U.S. corporation do if it believes that the dollar will continue to appreciate when it changes foreign earnings back into dollars?
What will be an ideal response?
Increasing U.S. trade deficits result in: a. federal budget surpluses
b. increased U.S. savings. c. reduced purchases of U.S. government bonds by people in other countries. d. accumulation of dollars overseas. e. increased U.S. investment abroad.
Which of the following is an example of an implicit cost?
a. salaries paid to owners who work for the firm b. interest on money borrowed to finance equipment purchases c. cash payments for raw materials d. foregone rent on office space owned and used by the firm