If the federal government runs a budget _______, then the national debt becomes __________

Suppose the Phillips curve is represented by the following equation: ?t - ?t-1 = 20 - 2ut. Given this information, we know that the natural rate of unemployment in this economy is

A) 10%. B) 20%. C) 6.5%. D) 5%. E) none of the above

Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. The national income of this nation will be:

a. $236 billion. b. $249 billion. c. $251 billion. d. $279 billion. e. $290 billion.