When the federal government is running a budget deficit:
a. government tax revenues exceed government expenditures.
b. government expenditures exceed government tax revenues.
c. the economy must be in an economic recession.
d. the size of the national debt will decline.
Question 2
Starting from a position of macroeconomic equilibrium at below the full-employment level of real GDP, an increase in the money supply will:
a. raise interest rates, prices, and reduce real GDP.
b. raise interest rates, lower prices, and leave real GDP unchanged.
c. raise interest rates, lower prices, and leave real GDP unchanged.
d. lower interest rates, raise prices, and increase real GDP.
Energy budget for a temperate deciduous forest (data from Gosz et al. 1978).
This modified model of Easton’s systems theory puts government decision makers as the source of pol
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
Ripple marks (running water)
Running with Terry Fox