Currently, the U.S. national debt is more than 20 trillion.

Currently, the U.S. national debt is more than 20 trillion.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

An increase in inflation in the United States relative to the rate in France would make:
 a. U.S. goods relatively less expensive in the United States and in France.
  b. French goods relatively less expensive in the United States and U.S. goods relatively more expensive in France.
  c. French goods relatively more expensive in the United States and in France.
  d. French goods relatively more expensive in the United States and U.S. goods relatively less expensive in France.

QUESTION 3

Real disposable income is held constant when constructing a consumption function.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 4

In recent years, the national debt was about 120 percent of the U.S. GDP.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

Which of the following would cause the supply of dollars curve in the United States to shift to the right?
 a. Japanese imports become less popular. b. The value of the dollar falls.
  c. The supply of dollars decreases. d. Japanese imports became more popular.

QUESTION 6

If autonomous consumption is greater than zero and the marginal propensity to consume is greater than zero, but less than one, the consumption function will first be below and then above the 45 degree line.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 7

The United States has a much higher national debt as a percentage of GDP compared to other industrialized nations.
 a. True
  b. False
  Indicate whether the statement is true or false