A country reports that its government outlays total $0.8 trillion and its tax revenues total $0.6 trillion. Does the country have a budget surplus or deficit and what is the surplus or deficit?
What will be an ideal response?
The country has a budget deficit. The deficit equals $0.2 trillion.
Economics
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When a country experiences capital flight, the interest rate
a. falls because the demand for loanable funds shifts left. b. falls because the supply for loanable funds shifts right. c. rises because the demand for loanable funds shifts right. d. rises because the supply for loanable funds shifts left.
Economics
Total governmental purchases—federal, state, and local combined—accounted for about what percentage of domestic output in 2012?
A. 35 percent. B. 20 percent. C. 10 percent. D. 5 percent.
Economics