Which of the following is a lagging indicator?

The price rationing mechanism of a freely functioning market leads to the most efficient use of resources because

A) all gains from mutually beneficial trade are captured. B) the Federal Trade Commission regulates the market. C) of the rise of the legislative apparatus that supports trade. D) the Justice Department monitors market activities.

Which of the following correctly describes the trend in the federal budget during the 1980s? a. Federal spending declined relative to GDP, while federal revenues rose relative to GDP. b. Federal spending rose relative to GDP, while federal revenues declined relative to GDP. c. Balanced budgets were passed through cooperation between the President and Congress. d. The dollar depreciated,

thereby lowering the deficit. e. The budget deficit decreased and then disappeared, turning into a surplus in the 1980s.