Compared to the Canada and Germany in recent years, the debt as a percentage of GDP in the US is
A. slightly smaller.
B. substantially greater.
C. substantially smaller.
D. negligible.
Answer: A
You might also like to view...
A monopoly can price discriminate between two groups of consumers if each group has ________
A) a large consumer surplus B) a different willingness to pay C) the same willingness to pay D) the ability to resell the good to the other group
If a cut in prices increases total revenue in the short run, what will it do to total revenue in the long run? a. It will decrease total revenue in the long run
b. It will increase total revenue in the long run. c. It will leave total revenue unchanged in the long run. d. Any of the above results are possible in the long run.
In an economy with persistent inflation,
a. real GDP will grow faster than nominal GDP. b. nominal GDP will grow faster than real GDP. c. nominal and real GDP will grow at the same rate. d. nominal and real GDP will both fall.
If the wage rate falls, consumption
A. rises because the income and substitution effects are working in opposite directions to change consumption. B. rises because the income and substitution effects are both working in the same direction to increase consumption. C. falls because the income and substitution effects are both working in the same direction to decrease consumption. D. falls because the income and substitution effects are working in opposite directions to change consumption.