The following is budget information for a hypothetical economy. All data are in billions of dollars.
Refer to the above table. The budget deficit was $75 billion in:
A. Year 2
B. Year 3
C. Year 4
D. Year 5
D. Year 5
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Which of the following statements is true?
A. The short-run aggregate supply curve is downsloping. B. The short-run aggregate supply curve is vertical. C. The long-run aggregate supply curve is vertical. D. The long-run aggregate supply curve is upsloping.
Refer to the information provided in Figure 33.4 below to answer the question(s) that follow.
Figure 33.4Refer to Figure 33.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. After the tariff is imposed, tariff revenue in this country will be
A. $50. B. $250. C. $500. D. $750.
List the components of the expenditure approach to measuring GDP
What will be an ideal response?
Because of the rise of global competition and free trade,
a. antitrust policy may be less necessary than previously thought. b. U.S. industrial concentration poses more of a threat to consumers. c. U.S. markets are becoming less competitive. d. U.S. manufacturers are seeking fewer trade barriers.