Compared to other industrialized nations around the globe, defense spending as a percentage of GDP is
A. somewhat higher than France and the United Kingdom but much less than Germany and Japan.
B. Germany, and Japan.
C. substantially higher than that of the next highest nation.
D. somewhat higher than France and the United Kingdom and much higher than Germany and Japan.
Answer: C
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A person's real income will increase by 3% if her nominal income increases by
A. 5% while the price index falls by 2%. B. 5% while the price index rises by 2%. C. 2% while the price index falls by 5%. D. 2% while the price index rises by 5%.
Firm ownership in the United Kingdom is largest for
A) individuals. B) financial institutions ? agents. C) financial institutions ? ownership/control. D) nonfinancial corporations.
Government borrowing in any given year is equal to the budget ___________________.
a. deficit b. surplus c. total d. amount
Which of the following is most likely to intensify a cyclical downturn?
a. a war coupled with a major improvement in communications technology b. substantially higher interest rates coupled with an increase in marginal propensity tosave c. the invention of the silicon chip coupled with the invention of a new energy source d. increase in capital stock coupled with the invention of high-definition television e. a war coupled with a severe drought