Total Government Debt is the sum of previous surplus and deficits.
A. True
B. False
C. Uncertain
A. True
You might also like to view...
When comparing partial-equilibrium effects to general-equilibrium effects, one can conclude that
A) general-equilibrium effects are always larger. B) partial-equilibrium effects are always larger. C) the effects are of equal size. D) one cannot determine before the fact which effect is greater.
Interest payments in the United States increased during the 1980s because of: a. growing federal deficits
b. a low tax rate. c. growing budget surpluses. d. a fall in government expenditure. e. an increase in national savings.
Price indexes like the CPI are calculated using a base year. The term base year refers to:
a. the first year that price data are available. b. any year in which inflation was higher than 5 percent. c. the most recent year in which the business cycle hit the trough. d. an arbitrarily chosen reference year.
Discretionary fiscal policy is so named because it:
A. involves specific changes in T and G undertaken expressly for stabilization at the option of Congress. B. is undertaken at the option of the nation's central bank. C. occurs automatically as the nation's level of GDP changes. D. is invoked secretly by the Council of Economic Advisers.