When the government's expenditures exceed its revenues...

What will be an ideal response?

-it needs to borrow
-it incurs a budget deficit
-the federal government debt increases

Economics

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The LM curve shows that, with a fixed supply of money, as GDP rises, the demand for money will ____ and the rate of interest will ____.

A) rise; rise B) fall; fall C) rise; fall D) fall; rise

Economics

In a repeated prisoner's dilemma situation, cooperation can be achieved _____

a. if player A cooperates as long as player B cooperates b. if player A continually defects on player B c. if player A cooperates regardless of what player B does d. never

Economics