Except for World War II, the U.S. deficits from 2009 to 2012 were the largest deficits in the nation's history relative to GDP, even larger than during the Great Depression
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Table 23-2. Using the table above, compute aggregate expenditure and identify the macroeconomic equilibrium
What will be an ideal response?
The Commodity Credit Corporation was created by the
a. Federal Reserve Act b. United States Constitution c. Agricultural Adjustment Act d. New Deal e. Great Society
The production of methamphetamine (meth) is a social problem in the Midwest. Iowa is considering two potential programs: Operation Methbust would increase the number of sheriffs' deputies to search out and destroy methamphetamine labs. Operation Say No to Meth would increase the training required of public school teachers so that they could better educate students about the health risks of using meth. Assuming that each program were successful, which of the following statements is correct?
a. Both Operation Methbust and Say No would reduce the demand for meth.
b. Both Operation Methbust and Say No would reduce the supply of meth.
c. Operation Methbust would reduce the demand for meth; Operation Say No would reduce the supply of meth.
d. Operation Methbust would reduce the supply of meth; Operation Say No would reduce the demand for meth.
Refer to the above production possibilities curves. Curve (a) is the current curve for the economy. The movement from curve (a) to curve (b) suggests:
A. a movement from unemployment to full employment. B. a decline in the total output of this society. C. an improvement in consumer goods technology but not in capital goods technology. D. an improvement in capital goods technology but not in consumer goods technology.