Related to the Economics in Practice on p. 496: In 2014, the Congressional Budget Office estimated that the federal debt was ________ percent of GDP.
A. 24
B. 42
C. 74
D. 100
Answer: C
You might also like to view...
Explain the following statement: Individuals with different tastes might have the same tastes at the margin at their current consumption bundles.
What will be an ideal response?
The amount of time during which at least one input cannot be adjust is the
A. length of the long-run period. B. length of the short-run period. C. time period when all costs are fixed. D. end of the firm’s operations.
The Phillips curve shifts because
A) fiscal policy changes over time. B) of total factor productivity shocks. C) of economic development. D) none of the above.
A unit tax of $1 has been levied on a good. The equilibrium price of the good will most likely
A) increase by $1. B) remain unchanged. C) decrease by $1. D) increase by an amount less than $1.