The following is budget information for a hypothetical economy. All data are in billions of dollars.
Refer to the above table. Assume that Year 1 is the first year for this economy and Year 5 is the current year. What is the public debt in this economy at Year 5?
A. $25 billion
B. $75 billion
C. $125 billion
D. $925 billion
C. $125 billion
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The aim of development aid is basically to:
A) eradicate poverty. B) minimize international trade. C) eradicate corruption. D) boost population growth.
In 1984, the National Minimum Drinking Age Act was passed, raising the legal age to consume alcoholic beverages in the United States to 21. In much of Europe, the legal age to consume alcohol is 18
If the legal drinking age in the United States was changed back to 18, how would this affect the market for alcoholic beverages? What would happen to the equilibrium price and quantity of alcoholic beverages?