Answer the following statements true (T) or false (F)
1. Raising taxes in order to pay off the U.S. national debt would result in a significant redistribution of income.
2. Passing the debt on to future generations has a different impact on individuals than it does on the total economy.
3. Reducing the national debt would increase the money supply.
4. The actual deficit is a poor measure of fiscal policy.
5. The U.S. national debt has declined continuously as a percentage of GDP since World War II.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
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Which of the following statements about a supply curve is FALSE?
A) It shows a direct (positive) relationship between price and quantity supplied. B) It shows the quantity supplied at each specific price. C) It typically slopes downward to the right. D) It has a positive slope.
Within the AD/AS model, an increase in capital formation that permits the economy to achieve a larger output will
What will be an ideal response?
Which age category has the highest incidence of those without health insurance?
a. 45-64 years of age b. 19-34 years of age c. Under 19 years of age d. Over 65 years of age e. 35-44 years of age
Which of the following statements explains the situation when the United States consistently has a large current account deficit over time?
a. The United States exports a larger amount of goods and services than it imports. b. The United States sends more capital abroad than it receives from abroad. c. The United States receives more transfers from abroad than it sends abroad. d. The United States sells more assets to foreigners than it purchases from foreigners.