The public debt is the sum of all previous:
A. budget deficits of the federal government.
B. expenditures of the federal government.
C. budget deficits minus any budget surpluses of the federal government.
D. budget surpluses minus the current budget deficit of the federal government.
Answer: C
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Fill in the blank: National income accountants define a(n) ________ good as something purchased without the goal of reselling it or further processing or remanufacturing it into another sellable good
A) scarce B) intermediate C) final D) finished E) completed
An unexpected decrease in aggregate demand
A) will decrease long-run aggregate supply. B) will decrease the average duration of unemployment. C) will decrease the price level. D) will decrease real GDP, but will not affect the rate and duration of unemployment.
The Monetarist transmission mechanism through which monetary policy affects the price level, real GDP, and employment depends on the:
a. indirect impact of changes on the interest rate. b. indirect impact of changes on profit expectations. c. direct impact of changes in fiscal policy on aggregate demand. d. direct impact of changes in the money supply on aggregate demand.
In which market structure is there clear interdependence between individual firms with regard to prices and sales? a. pure competition
b. monopolistic competition. c. oligopoly. d. monopoly.