The accumulation of money that a government has borrowed over time but has not yet paid back is a:
a. government outlay.
b. government debt
c. government deficit.
d. government surplus.
b
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The evidence shows that in 1860–1910
(a) population and annual hours worked grew more rapidly than did the employed labor force. (b) population grew more rapidly than the labor force, but annual hours worked grew less rapidly. (c) population grew less rapidly than did the employed labor force, and the work day shortened. (d) population, productivity and the work day grew less rapidly than did the employed labor force.
A firm with total revenue of $500, total cost of $700, and variable cost of $400 should continue to operate its production facility.
Answer the following statement true (T) or false (F)
Alt-A mortgages are
A) mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgages. B) mortgages which are bundled together by financial institutions and sold to investors. C) mortgages issued to borrowers with flawed credit histories. D) government-backed mortgages issued by Fannie Mae and Freddie Mac.
According to New Keynesian theory, fluctuations in the target interest rate are not a good explanation of the business cycle because the model predicts that
A) consumption is constant. B) labor is countercyclical. C) average labor productivity is countercyclical. D) output is countercyclical.