A chart of the ratio of national debt to GDP from 1915 to 2014 would show
a. a continuous decline.
b. sharp increases from 1945 to 1975.
c. significant increases from 1983 to 1994.
d. significant decreases from 2003 to 2010.
c
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Why are lump-sum taxes regressive in nature?
What will be an ideal response?
Which of the following is NOT a basic assumption of the "Lucas" model?
A) slow adjustment of wages and prices B) rational expectations C) imperfect information D) market-clearing
If MFC > MRPL, the firm should
A) hire more workers. B) lower wages. C) get rid of some capital. D) reduce the number of workers.
Technology or production processes developed in a particular country:
A. may give that country a temporary comparative advantage. B. may set that country back until they earn back the research and development costs. C. will give that country a permanent comparative advantage. D. generally are not transferrable to other nations.