Persistent deficit after 1980 was almost entirely due to
A) higher share of expenditures in GDP.
B) lower tax revenue.
C) lower share of expenditures in GDP.
D) Higher tax revenue.
A
Economics
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An example of the commodity substitution bias in the calculation of the CPI is a price increase in
A) turkey when the price of chicken doesn't rise. B) a GPS unit versus a AAA map book. C) a 2014 Toyota Camry versus a 2005 Honda Civic. D) etexts versus used books bought through Craigslist. E) new homes because people's incomes have increased.
Economics
Which of the following determines how scarce resources are allocated?
a. quality and demand b. quality and shortage c. supply and demand d. supply and surplus
Economics