To evaluate the size of the federal budget deficit or surplus over time, it would be best to look at the
A) absolute size of the budget deficit or surplus.
B) budget deficit or surplus as a percentage of GDP.
C) budget deficit or surplus as a percentage of tax revenues.
D) budget deficit or surplus as a percentage of government spending.
Answer: B
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Abnormal net income is similar to economic profit
Indicate whether the statement is true or false
Which of the following is an example of U.S. foreign direct investment?
a. A Chinese company opens a restaurant in the U.S. b. An Australian bank buys stocks issued by a U.S. corporation. c. A U.S. bank buys bonds issued by an Australian corporation. d. A U.S. company opens an auto parts factory in Canada.
Well over half of all state and local government expenditures goes towards (1) _____; (2) _____; and (3) _____.
Fill in the blank(s) with the appropriate word(s).
Suppose two countries have per capita real GDP of $20,000 in 2017. Country A has a growth rate of 4 percent and Country B has a growth rate of 5 percent. By 2020, the per capita real GDPs for the two countries, respectively, are (rounded)
A. $22,400 and $23,000. B. $25,000 and $26,500. C. $21,630 and $22,050. D. $22,500 and $23,150.