Which of the following statements is true?
a. The national debt as a percentage of GDP is greater today than during any other period in our nation's history.
b. A sizeable external national debt will transfer purchasing power away from foreigners to domestic citizens.
c. Keynesian theory assumes a total crowding out effect associated with deficit spending.
d. U.S. national debt is 12 times its size in 1980.
d
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With a surplus in our balance of payments, there is an excess __________ dollars in the foreign exchange market, causing the dollar to __________
A) demand for; appreciate B) demand for; depreciate C) supply of; appreciate D) supply of; depreciate
A decrease in the money supply in an economy results in a lower equilibrium interest rate
a. True b. False Indicate whether the statement is true or false