When measured as a percentage of GDP, the U.S. national debt reached its highest levels as a result of:
a. World War II.
b. the Vietnam War.
c. the Bush economic recovery program.
d. the Reagan defense buildup and tax cut.
a
Economics
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The "dual" nature of our banking system got its start in the
A) 1820s. B) 1860s. C) 1910s. D) 1930s.
Economics
Other things equal, the equation for the real interest rate indicates that:
a. as inflation increases, the real interest rate will rise. b. as inflation increases, the nominal interest rate will fall. c. as inflation decreases, real income will fall. d. as inflation decreases, the real interest rate will rise. e. as inflation changes, the real interest rate will not change.
Economics