Currently, virtually the entire deficit in the U.S. is
a. cyclical.
b. structural.
c. transitional.
d. frictional.
B
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Suppose the quantity of sodas and the quantity of popcorn are on an indifference curve/budget line diagram. An increase in income shifts the budget line ________ and, if popcorn is a normal good, shifts the demand curve for popcorn ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
Which of the following is NOT an antitrust law?
A) the Robinson-Patman Act B) the Smoot-Hawley Act C) the FTC Act D) the Sherman Act
Which of the following does not contribute to differences in interest rates?
a. Different loans are for different periods of time. b. Large loans generate more administrative costs per dollar than smaller loans. c. Different loans are subject to different tax rules. d. Loans to established businesses are evaluated differently from loans to new businesses. e. The longer the period of repayment, the greater the risk of higher-than-expected inflation.
The Consumer Price Index (CPI) is a measure of the:
a. cost of a market basket of consumer goods and services relative to its cost in a base year. b. change in the average price of a market basket of necessary goods and services c. cost of a market basket of consumer goods relative to the previous year. d. change in the average price of all intermediate goods and services. e. average price of all final goods and services relative to the average price in the previous year.