Among economists, it is generally believed that
A) the federal budget deficit will be eliminated within 10 years.
B) the public debt will be paid off within 10 years.
C) entitlement spending will continue to decline.
D) the federal government will find it difficult to cut entitlement programs.
D
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If an economy moves into a recession, causing that country to produce less than potential GDP, then:
a. automatic stabilizers will cause tax revenue to decrease and government spending to increase. b. automatic stabilizers will cause tax revenue to increase and government spending to decrease. c. tax revenue and government spending will be higher because of automatic stabilizers. d. tax revenue and government spending will be lower because of automatic stabilizers.
Money, such as gold, with some intrinsic value is called _____. Money with no intrinsic value is called _____
Fill in the blank(s) with correct word
In an open economy, an increase in the government's budget deficit will ________ the domestic real interest rate and ________ the level of capital investment in the country, holding other factors constant.
A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase
The price elasticity of supply is calculated as the change in supply divided by the change in price
Indicate whether the statement is true or false