The current Debt to GDP levels in the U.S.
A) is one of the lowest in world among large nations but expected to rise dramatically
B) is at its highest point in U.S. history
C) is over 100% which was reached previously only as a result of war
D) is the highest among the high income nations
Answer: C) is over 100% which was reached previously only as a result of war
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An uninsurable risk is one
a. where everyone wishes to bet on the same outcome. b. in which information is asymmetrically distributed. c. for which the odds of an event's occurrence cannot be accurately estimated. d. that cannot be diversified.
Potential homebuyers expect house prices to continue to rise, which causes others to believe that they will rise even faster. This is an example of:
A. extrapolative expectations. B. irrational expectations. C. imperfect expectations. D. heightened expectations.
You know that a candy bar cost five cents in 1962 . You also know the CPI for 1962 and the CPI for today. Which of the following would you use to compute the price of the candy bar in today's prices?
a. five cents (1962 CPI / today's CPI) b. five cents ((today's CPI - 1962 CPI)/1962 CPI) c. five cents (today's CPI / 1962 CPI) d. five cents today's CPI - five cents 1962 CPI.
The addition of new resources often enables a nation to
a. produce more goods and services b. produce less goods and services c. produce more goods but fewer services d. invade other nations and steal their resources