When the U.S. debt-to-GDP ratio has fallen, it has generally been because:
A. the budget deficit rose.
B. income rose.
C. income fell.
D. the budget deficit fell.
Answer: B
You might also like to view...
In the Bertrand model with homogeneous products,
A) the firm that sets the lower price will capture all of the market. B) the Nash equilibrium is the competitive outcome. C) both firms set price equal to marginal cost. D) all of the above E) the outcome is inconclusive.
Suppose two coffee snobs who must have their coffee and cream in exact proportions (each cup is 10 coffee per 1 unit cream) are invited to a weekend long event (during which they can easily consume 8 cups of coffee). Suppose Snob A is given 8 units of cream and Snob B is given 80 units of coffee. The post trading result (one in which any trade that makes both parties better off than their initial
allocation) will guarantee each person a. nothing b. at least 1 cup of properly made coffee. c. at least 2 cups of properly made coffee. d. exactly 4 cups of properly made coffee.
When private property rights in a country are not secure, people cannot use their property as collateral for loans
a. True b. False Indicate whether the statement is true or false
Two goods that are substitutes are
a. bacon and eggs b. camera and film c. tennis racket and tennis balls d. movie theater tickets and DVD rentals e. coffee and cream