The public debt is the sum of all previous:
a. Budget deficits of the Federal government
b. Expenditures of the Federal government
c. Budget surpluses minus the current budget deficit of the Federal government
d. Budget deficits minus any budget surpluses of the Federal government
d. Budget deficits minus any budget surpluses of the Federal government
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Which of the following correctly describes the spending multiplier?
A. The initial change in consumption, investment, government spending, or net exports divided by the change in equilibrium GDP. B. An initial increase in aggregate expenditures divided by the equilibrium GDP. C. An initial increase in aggregate expenditures divided by the change in equilibrium GDP. D. The ratio of the change in real GDP to an initial change in any component of aggregate expenditures.
In the context of Ireland's Balance of Payments, what does the term "patent cliff" refer to?
(a) The large number of FDI companies in Ireland. (b) A drop in exports attributed to the pharmaceutical sector. (c) Plummeting unemployment levels. (d) A depreciating currency.