Since 2002, the United States has had:
A. large federal budget surpluses.
B. large federal budget deficits.
C. modest trade surpluses.
D. a rising natural rate of unemployment.
B. large federal budget deficits.
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According to this Application, for approximately 12 million homeowners in 2012, the amount owed on mortgages was higher than the actual value of the homes. Homeowners who find themselves in this situation are said to be
A) "financially grounded." B) "subprime borrowers." C) "underwater." D) "shadow mortgage holders."
The above figure shows Bob's utility function. He currently has $100 of wealth, but there is a 50% chance that it could all be stolen
The midpoint of the chord that runs from zero and intersects the utility function where wealth is 100, represents Bob's A) risk premium. B) expected utility of receiving $50 with certainty. C) expected utility of receiving $0 50% of the time and $100 50% of the time. D) risk neutrality.
A government with a national debt that is large and growing relative to the size of the economy will
a. eventually find it difficult to borrow in global credit markets. b. be able to borrow at lower interest rates than countries with less outstanding debt. c. have to allocate a large and growing amount of tax revenue to the payment of interest on the outstanding debt. d. do both a and c.
Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot. B) Corporations have one owner, while proprietorships have many owners. C) Corporations face fewer taxes than do proprietorships. D) Proprietorships have limited liability while corporations have unlimited liability.