At the end of 2012, the government had a debt of about $11.3 trillion. If during 2013 real GDP rose 2% and inflation was 2.2%, what is the largest deficit the government could have run without raising the debt-to-GDP ratio?

A seller's willingness to accept is the same as his:

A) total cost of production. B) marginal cost of production. C) fixed cost of production. D) average cost of production.

A tax cut ________ disposable income, ________ consumption expenditure, and shifts the IS curve to the ________, everything else held constant

A) increases; increases; right B) increases; decreases; right C) decreases; increases; left D) decreases; decreases; left