In which of the following decades did the Phillips curve break down for the U.S.?

Explain how a government budget deficit might crowd out private investment

What will be an ideal response?

Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period. Which country faces the lowest opportunity cost of producing beef?

A) The U.S. B) Canada C) Both countries D) Neither country