Marginal analysis is useful in economics, but not in other areas of life
a. True
b. False
Indicate whether the statement is true or false
False
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Based on the figure above, in which quarter or quarters did an expansion occur?
A) in 2014, 2nd quarter B) in 2013, 2nd quarter C) between 2013, 2nd quarter to 2014, 2nd quarter D) between 2012, 2nd quarter to 2013, 2nd quarter and also between 2014, 2nd quarter to the end of the figure E) There are no expansions illustrated in the figure.
Which of the following observations is true of the federal budget between 1960 and 2010?
a. The federal budget was in deficit in the early 1960s. b. Between 1960 and 1970 the federal budget deficit reflected a sharp increase. c. The federal budget was in surplus between 1970 and 1980. d. The federal budget deficit was the highest in the late 1990s. e. The federal budget deficit was lower than 600 billion dollars in 2010.