The difference between net public debt and gross public debt is
A. all government interagency borrowing.
B. the amount owed to individuals and firms outside the United States.
C. the current year's budget deficit from the amount of public debt at the start of the year.
D. the interest paid annually on the public debt.
Answer: A
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When a hard frost hits orange groves in Florida, the supply of orange juice ________ and price ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The simple fiscal policy multiplier occurs in the IS-LM model when ________ interest responsiveness of money demand produces a ________ LM curve
A) zero, vertical B) zero, horizontal C) infinite, vertical D) infinite, horizontal
The demand curve for labor slopes downward because: a. few workers are willing to work at low wages
b. capital has been substituted for labor in most industries. c. of the diminishing marginal product of labor. d. of all of the above.
Which of the following is true about real wages?
What will be an ideal response?