Which of the following equals the change in an economy's capital stock from one period to the next?
A) wealth
B) stock
C) gross investment
D) depreciation
E) net investment
E
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The federal budget deficit acts as an automatic stabilizer because
A) Medicaid payments increase during expansionary periods. B) unemployment insurance payments decrease during a recession. C) food stamp payments increase during expansionary periods. D) government tax revenues decrease during a recession.
The hypothesis that people believe the best indicator of the future is the recent past is known as:
a. rational expectations. b. adaptive expectations. c. lagged expectations. d. trend expectations.
Which of the following taxes contributed the greatest percentage of total federal government tax revenues in recent years?
a. Individual income taxes. b. Corporate income taxes. c. Social Security taxes. d. Excise taxes.
U.S. Treasury bonds owned by U.S. households, institutions, and government entities are referred to as
A. Internal debt. B. Debt refinancing. C. Debt servicing. D. External debt.