The Federal Reserve System was established in 1913 in response to the

The Congressional Budget Office estimates that the ratio of publicly held debt to GDP will ________ by 2050 if no entitlement reforms are enacted

A) remain close to the current high level of 73% B) fall to only about 55% C) more than triple to about 250% D) rise to about 130%

Transfer payments are important for society because

a. the government needs to perform acts of goodwill to maintain citizens' support b. we could not count GDP without them c. they serve to redistribute money from one group of citizens to another d. government investment is an important component of GDP e. they result in lower taxes for citizens