Which statement is true?
A. We have a national debt over $12 trillion.
B. We have a federal budget deficit of over $8 trillion.
C. We had 4 years of budget surpluses during Bush II administration.
D. We had budget deficits every year of the Clinton administration.
A. We have a national debt over $12 trillion.
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If the pound-dollar exchange rate changes from £0.60 per dollar to £0.65 per dollar, then the pound has ________ against the dollar and the dollar has ________ against the pound
A) depreciated; depreciated B) appreciated; depreciated C) appreciated; appreciated D) depreciated; appreciated
If a bottle of fine French wine costs US$250 in the U.S., 2500 rand in South Africa, there are transaction costs of US$50, and the exchange rate is 20 rand/US$, then
A) there is an arbitrage opportunity by buying the wine in the U.S., and selling it in South Africa and the price in South Africa will drop. B) there is an arbitrage opportunity by buying the wine in South Africa., and selling it in the U.S. and the price in the U.S. will drop. C) here is an arbitrage opportunity by buying the wine in South Africa., and selling it in the U.S. and the price in the U.S. will rise. D) there is no arbitrage opportunity.
National Income is obtained by
a. subtracting capital consumption allowance from GDP. b. adding all the earnings of productive resources in a given period. c. subtracting personal taxes from personal income. d. adding personal savings and personal consumption expenditures.
A . Explain how public debt can crowd out private investment. b. Even if the crowding out effect does occur, explain the argument that crowding out does not necessarily undermine overall economic growth