Everything else held constant, when the government has higher budget deficits
A) the demand curve for bonds shifts to the left and the interest rate rises.
B) the demand curve for bonds shifts to the left and the interest rate falls.
C) the supply curve for bonds shifts to the right and the interest rate falls.
D) the supply curve for bonds shifts to the right and the interest rate rises.
D
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Personal income equals personal disposable income plus
a. payroll taxes. c. transfer payments. d. dividend payments. d. personal saving. e. personal taxes.
An individual voter will likely be concerned with
A) the views of a particular political candidate on all issues. B) only a few special issues (those that exert the most impact on the voter's personal welfare). C) most issues since information on nearly all issues is available at a low cost on the Internet. D) most issues because they have some impact, however slight, on each citizen.
"We should support the market because it is efficient" is an example of:
A. positive economics. B. objective economics. C. negative economics. D. normative economics.
The version of the law of diminishing returns that applies to production
A. is true only when all inputs are variable. B. applies only in the short run. C. implies that as we add more workers our output decreases. D. applies in the short and long run.