The large budget deficits of 2001-2011 were
a. financed entirely through borrowing from domestic sources.
b. accompanied by a rapid increase in private investment, which will enhance the welfare of future generations of Americans.
c. accompanied by an increase in consumption as a share of GDP, which indicates the current generation of Americans is gaining at the expense of future generations.
d. accompanied by large trade surpluses, which will enhance the welfare of future generations of Americans.
C
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In monopolistic competition there
A) are many firms and many buyers. B) are several large firms. C) is one large firm. D) might be many, several, or one firm. E) are many firms but only a few buyers.
The real discount rate and the nominal discount rate differ in their treatment of
A) risk. . B) market return. C) inflation. D) expected risk.