The national debt
a. is currently greater than the annual federal deficit
b. is reduced by the revenue generated from the federal deficit
c. decreases as the deficit is reduced
d. is a flow variable
e. varies depending on developments in the stock market
A
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Passive policy advocates rely on the economy's natural ability to correct itself in case of unemployment because of: a. the lack of any real concern for those who have no jobs
b. the conviction that unemployment is relatively harmless. c. the belief that active economic policy is likely to be either ineffective or harmful. d. the desire to await further economic data before intervening. e. the belief in the law of diminishing returns.
Over time, which of the following will most likely result from a depreciation in the exchange rate of the dollar?
a. Inflation will decline. b. Foreign goods will cost Americans less, and therefore, the imports of Americans will rise. c. U.S. goods exported abroad will cost less in foreign countries, so foreigners will buy more of them. d. U.S. goods exported abroad will cost more in foreign countries, so foreigners will buy fewer of them.
Suppose both supply and demand increase. What effect will this have on the equilibrium quantity?
A. It may rise or fall. B. It will rise. C. It will remain the same. D. It will fall.
Scarcity is only a temporary problem that a society can solve by promoting economic growth.
Answer the following statement true (T) or false (F)