The United States 2007 Gross-Public-Debt to GDP ratio is
a. similar to the ratios in most of the OECD countries
b. considerably higher than it is in most OECD countries
c. considerably lower than it is in most OECD countries
d. considerably higher than it was in 1990
e. considerably lower than it was in 1990
A
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For a perfectly competitive firm, profit maximization occurs when output is such that
A) total revenue (TR) is maximized. B) total cost (TC) is minimized. C) marginal revenue (MR) = marginal cost (MC). D) average total cost (ATC) is minimized. E) total revenue (TR) equals total cost (TC).
If a country increased the production of its capital goods, then
A. the more unemployed resources there will be in the future. B. the more consumption of goods we can have today. C. the more unemployed resources there are today. D. the less consumption we can have today, but we will have more in the future.