Question
Which of the following statements is FALSE? a. During the past five years, the U.S. public debt has been increasing. b. A budget deficit of
Which of the following statements is FALSE?
a. During the past five years, the U.S. public debt has been increasing.
b. A budget deficit of $100 billion in a given year increases the public debt by $100 billion.
c. The public debt of $100 billion is the accumulated debt of all U.S. individuals, firms, and institutions.
d. The federal budget deficit in 2017 was about 3 percent of the GDP.
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
