If a government had a debt of $300 billion and then ran deficits of $200 billion each year for the next three years, by the end of the third year its total debt would be
A) -$300. B) $300 billion. C) $600 billion. D) $900 billion.
D
You might also like to view...
Suppose Congress passes a one-time tax refund of all taxes paid by firms in an industry last year. This will lead to a drop in output price in the industry.
Answer the following statement true (T) or false (F)
Which of the following statements about the circular flow model is false?
A) Consumers earn income by selling resources they own to businesses. B) Businesses supply goods and services to the household sector. C) Households supply resources to the business sector. D) Business firms buy goods and services from the household sector.
In game theory, a prisoner’s dilemma
A. never has a dominant strategy. B. is equivalent to a Nash equilibrium. C. always has the best result for the players when game is played repeatedly. D. is a game that has a preferred outcome for the players that is not an equilibrium.
Which would be an avenue for resolving the inefficiencies associated with majority voting?
A. The paradox of voting B. Progressive taxation C. Proportional taxation D. Special interest groups