The budget deficit
A. is the value of the government’s indebtedness at a moment in time.
B. was $13.5 trillion in fiscal 2014.
C. is the amount by which the government’s expenditures exceed receipts during a specific time period.
D. all of the above are correct.
Answer: C
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Refer to the scenario above. Suppose you decide to buy a Toyota Corolla. You value the car for $10,000. You don't know it, but the car dealer values it for $8,500
If you have a zero value for poor-quality cars, what is the most that would you be willing to pay for the car? A) $3,000.50 B) $6,666.67 C) $10,000 D) $5,000
Investment spending is a potent force in the macroeconomy, because ________
A) it is subject to large fluctuations B) it is larger than other spending categories C) it is the focus of macroeconomic policies D) it expresses entrepreneurial talent
According to the shortsightedness effect, politicians tend to favor projects with:
a. short-run benefits and short-run costs. b. short-run benefits and long-run costs. c. long-run benefits and short-run costs. d. long-run benefits and long-run costs.
The United States will always have unemployment
a. True b. False