To track the public debt over time and understand its significance to the economy, it is best
A. calculated relative to the money supply.
B. measured relative to the gross domestic product.
C. examined relative to budget surpluses.
D. to compare it to imports, exports, and the trade deficit.
Answer: B
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The prisoner's dilemma:
A. can be summarized in a payoff matrix. B. can involve two players. C. leads to a less-than-ideal outcome for all players. D. All of these statements are true.
Stabilization policy used during the Great Recession could be abstracted by a
A. decrease in aggregate demand. B. decrease in aggregate supply. C. increase in aggregate demand. D. increase in aggregate supply.
If the price of chocolate goes up 20% and quantity demanded falls by 5%, demand is _______.
Fill in the blank(s) with the appropriate word(s).
An example of an exogenous business cycle theory would be the __________ theory.
A. innovation B. inventory C. monetary D. demand shock