In the current year, a nation's government spending equals 15 trillion and its revenues are 20 trillion. Which of the following is TRUE?
A) The nation's national debt equals 5 trillion.
B) This nation has a current year budget surplus of 5 trillion.
C) This nation is currently running a budget deficit of 5 trillion.
D) The nation has a current year trade surplus of 5 trillion.
Question 2
An increase in growth rates will cause the production possibilities curve to
A) shift inward.
B) become steeper.
C) become flatter.
D) shift outward.
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