The budget deficit/surplus projections for 2003 that were made in 2000 were wrong, because there was an
A. anticipated increase in immigration.
B. anticipated increase in defense spending.
C. unanticipated increase in interest rates.
D. unanticipated recession.
Answer: D
Economics
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The government tries to protect the competitive economic system by passing and enforcing
A) price controls. B) tariff legislation. C) antitrust laws. D) building codes and zoning laws.
Economics
There is an inverse relationship between inflation and unemployment in the short run and this can be seen as an
A. example of the equality-efficiency trade-off. B. example of the impact of comparative advantage. C. example of macroeconomic policy choices. D. example of an externality. E. example of the use of abstraction in economic analysis.
Economics