As of 2009, the U.S. federal deficit had reached nearly __________ of GDP

An increase in the productivity of producing jeans results in

A) the quantity of jeans supplied increasing. B) the supply of jeans increasing. C) buyers demanding more jeans because they are now more efficiently produced. D) buyers demanding fewer jeans because their price will fall, which signals lower quality. E) some change, but the impact on the supply of jeans is impossible to predict.

The expression, "There's no such thing as a free lunch" implies that: a. everyone has to pay for his/her own lunch

b. the person consuming a good must always pay for it. c. costs must be incurred when resources are used to produce goods and services. d. no one has time for a good lunch anymore.