Increases in government expenditures and large budget deficits are projected for 2014-2020 . If the economic recovery is weak and growth is sluggish during this decade, this will be
a. supportive of the Keynesian view, but inconsistent with the crowding-out, new classical, and supply-side theories.
b. inconsistent with the Keynesian view, but supportive of the crowding-out, new classical, and supply-side theories.
c. inconsistent with both Keynesian and non-Keynesian theories.
d. supportive of both Keynesian and non-Keynesian theories.
B
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Carefully define the following terms and explain their importance to the study of economics. a. Resources b. Rational decision c. Scarcity d. Opportunity cost
What will be an ideal response?
According to the U.S. National Safety Council, a person has a better chance of being killed in which of the following situations?
A) in an aircraft accident B) from being electrocuted C) while riding a bicycle D) while walking
A tax on imports equal to a percentage of the cost of those imports is known as
a. a specific tariff b. an ad valorem tariff c. a tax on luxury goods only d. an effective quota e. an ad valorem quota
If real GDP is $17,700 billion (in 2012 dollars) in 2017 Q2 and $18,400 (in 2012 dollars) in 2018 Q2, then the non-annualized quarterly growth rate of real GDP is
A. 1.0%. B. 4.0%. C. 0.4% D. 16.8%.