Which of the following is true of U.S. national debt between 1958 and 2010?
a. Total debt in the U.S. crossed $104 trillion in 2009.
b. Debt as a percentage of GDP was the highest in the year 1978.
c. Net interest payable by the U.S. government was the highest in the year 1990.
d. Interest payment as a percentage of total government spending was the highest in 2009.
e. Net interest payable by the U.S. government crossed $250 billion in 2009.
a
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Technology reduces the average cost of production, so in the long run
i. perfectly competitive firms produce at a lower average cost. ii. the market price of the good falls. iii. firms with older plants either exit the market or adopt the new technology. A) i only. B) i and ii. C) iii only. D) i and iii. E) i, ii, and iii.
With real-world examples, explain the various factors that can cause a shift in the supply curve of a commodity
What will be an ideal response?