Which of the following is not included in the calculation of federal debt?
a. Debt held by banks
b. Debt held by firms
c. Debt held by the U.S. Treasury
d. Debt held by households
e. Debt held by foreign entities
c
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At his profit-maximizing level of output, a monopolist’s average total cost curve is tangent to his demand curve. The monopolist
A. is earning a negative economic profit. B. may or may not be earning a negative economic profit. C. is earning zero economic profit. D. is earning a positive economic profit.
A competitive strategy is
A) is the development of a price fixing arrangement. B) the development of a distinctive capability. C) a rent-seeking strategy. D) a path to accounting profits.
The primary benefit that results when a nation employs its resources in accordance with the principle of comparative advantage is
What will be an ideal response?
The Keynesian cross model attributes differences between actual output and planned expenditure to
a) unintended inventory accumulation or depletion b) buffer stocks resulting from risk-averse decision-making regarding production c) taxes d) net exports e) the diminishing marginal product of capital