With respect to diffusion of responsibility,
A) the larger the group, the more likely that any one individual will act.
B) the larger the group, the less likely that any one individual will act.
C) the size of the group has no bearing on the likelihood of any one individual to act.
D) individuals are likely to take no action only if the group of individuals is small.
B
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The circular flow diagram shows
A) how nominal GDP is distinct from real GDP. B) how the prices of factors are determined. C) the effects of inflation in a simple economy. D) the flows between different sectors of the economy.
Suppose that for the nation of Calliope, the debt-to-GDP ratio is 325%, the average annual growth rate is 1.1%, the average inflation rate is 0.5%, and the average nominal interest rate is 2.2%
Based on this information, determine if fiscal policy is sustainable in Calliope, and if not, what the primary budget deficit would have to be to make fiscal policy sustainable.