If the federal government were to run a budget deficit, this would:
A. increase the size of the national debt.
B. reduce the size of the national debt.
C. leave the size of the national debt unchanged.
D. increase the national debt only if the government also expands the supply of money.
Answer: A
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Moral hazard in a transaction hurts
a. The seller only b. The buyer only c. Both parties d. None of the parties
In Figure 30.2, unemployed labor at the equilibrium wage is equal to
A. 28 workers. B. 0 workers. C. 10 workers. D. 34 workers.
Marginal cost is calculated for a particular increase in output by
A) multiplying the total cost by the change in output. B) multiplying the change in total cost by the change in output. C) dividing the total cost by the change in output. D) dividing the change in total cost by the change in output.
Icy Treats is a large Italian ice dessert chain with franchises located throughout the United States. Icy Treats' advertising will likely focus on which of the following?
A) promoting Icy Treats locations in a specific state B) promoting a struggling Icy Treats location in Memphis, Tennessee C) promoting a successful Icy Treats location in Memphis, Tennessee D) promoting the enjoyment of eating Icy Treats' icees