About how many people out of 7 billion live on just $1.25 a day in the world?
A. 700 million
B. 500 million
C. 1.5 billion
D. 2 billion
A. 700 million
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At the beginning of year one, there is no government debt outstanding. The government runs a $100 billion deficit in year one. Interest at a nominal rate of 10% must be paid starting in year two
Assume nominal GDP in year one is $2000 billion and the nominal growth rate of GDP is 4%. Assume the government balances its primary budget in the future and the interest rate and growth rate do not change. (a) What will be the government deficit in years two, three, four, and five? (b) What will be the value of government bonds outstanding at the end of the fifth year? (c) What will be the debt—GDP ratio at the end of year five?
If workers believe that government policymakers will increase aggregate demand to avoid a politically unpopular increase in unemployment when workers demand higher wages, then workers will not fear higher unemployment and their wage demands will
result in A) demand-pull inflation. B) hyperinflation. C) deflation. D) cost-push inflation.
Commandeering resources is less efficient than commandeering money
Indicate whether the statement is true or false
consumer spending not dependent on current income
What will be an ideal response?