The national debt is the total amount the ________ government has ________ to make expenditures that exceed tax revenue
A) state and local; borrowed
B) federal; taxed U.S. citizens
C) state and local; taxed U.S. citizens
D) federal; borrowed
E) federal; loaned
D
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In the economy of Talikastan in 2015, consumption was $5000, exports were $400, government purchases were $1000, imports were $600, and investment was $1200 . What was Talikastan's GDP in 2015?
a. $6200 b. $6400 c. $7000 d. $8200
Which of the following statements is inaccurate?
A. Ideally, the market mechanism will lead an economy to the optimal mix of output. B. Voters are quick to blame government meddling for many economic woes. C. There is substantial agreement about how and when markets fail. D. There is substantial agreement about whether government improves market outcomes.
Refer to the data. Suppose quantity demanded increased by 12 units at each price, changing the equilibrium price in a direction and an amount for you to determine. Over that price range, supply is
What will be an ideal response?
Answer the following statements true (T) or false (F)
1) Productivity growth was greater between 1973 and 1995 than between 1995 and 2012. 2) The economy of 1995-2012 was characterized by greater productivity growth and greater economic growth than in the immediately preceding two decades. 3) Because of the recent rise in the average rate of productivity growth, the business cycle is dead. 4) Critics of economic growth say studies show that people are not interested in achieving higher standards of living.