Suppose that in the beginning of 2016 the federal debt was $11 trillion and at the end of 2016, the federal debt was $11 trillion. During 2016
A. the government balanced its budget.
B. the budget surplus was zero.
C. the budget deficit was zero.
D. all of the above
Answer: D
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As the capital-labor ratio increases, real GDP per worker ________, and investment per worker ________
A) increases; decreases B) decreases; increases C) increases; increases D) decreases; decreases
Assuming a decrease in money demand, then to keep interest rates constant the Fed must
a. keep the money supply constant. b. conduct an open market sale of bonds. c. accommodate the decreased demand for money by the public by increasing the money supply. d. All of the above e. None of the above
Sally is allocating her budget between two goods, A and B. If Sally has used up the budget on a combination of A and B for which MUA/PA exceeds MUB/PB, she can increase total utility by buying
a. more A and less B b. more B and less A c. more A without changing her consumption of B d. less B without changing her consumption of A e. more B and more A
Use the above table. If the marginal revenue product is $30, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A. 1; $10 B. 2; $15 C. 4; $25 D. 3; $20