At year-end 2014, the national debt of the United States was approximately
a. 5 percent of GDP.
b. 25 percent of GDP.
c. 77 percent of GDP.
d. 107 percent of GDP.
D
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Compared to the United States, unions are ________ and labor markets are ________ in Western Europe.
A. stronger; more flexible B. stronger; more regulated C. stronger; less regulated D. weaker; less regulated
A competitive equilibrium
A) is always economically efficient. B) is efficient only if there is an externality. C) is economically efficient only given some special conditions. D) does not exist without government taxation.
The required reserves of a bank are:
a. held as deposits with the Federal Reserve System. b. equal to its loans. c. equal to its checkable deposits. d. none of these.
If a country's net exports fall, then its net capital outflow falls by the same amount
a. True b. False Indicate whether the statement is true or false