Which of the following is not correct?
a. Government debt can continue to rise forever.
b. If the government uses funds to pay for investment programs, on net the debt need not burden future generations.
c. Social Security does not transfer wealth from younger generations to older generations.
d. The average U.S. citizens' share of the government debt represents less than 2 percent of her lifetime income.
c
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The figure above shows a nation's production possibilities frontier. In the figure, point A shows
A) the minimum quantity of pizza that the society must produce. B) the maximum quantity of pizza that can be produced. C) an unattainable point. D) an attainable point with unemployed resources. E) More information is needed to determine which of the above answers is correct.
Leontief's results can be interpreted as
A) evidence against the classical model. B) evidence against the Heckscher-Ohlin model. C) support for the classical model. D) support for the Heckscher-Ohlin model.
Which of the following are justifications for running a budget deficit?
a. stabilizing the economy during a recession b. future generations will benefit from some current expenditures c. both a and b d. neither a nor b
Suppose that inventories were $40 billion in 2012 and $50 billion in 2013. In 2013, national income accountants would ________.
A. subtract $45 billion (= $90/2) from other elements of investment in calculating total investment B. add $45 billion (= $90/2) to other elements of investment in calculating total investment C. subtract $10 billion from other elements of investment in calculating total investment D. add $10 billion to other elements of investment in calculating total investment