Which of the following owns the largest proportion of the national debt?
a. Foreigners.
b. Federal, state, and local governments and the Federal Reserve.
c. Private individuals, banks, and corporations.
d. None of these.
c
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The two most important factors contributing to increased productivity in industrialized countries in the twentieth century were:
A. higher relative prices and technological progress. B. higher relative prices and a larger labor supply. C. technological progress and increases in the labor supply. D. technological progress and increases in the capital stock.
During World War II (1941–45), Engel's law applied. As income rose, consumption of food dropped relative to all other goods and services purchased
Indicate whether the statement is true or false
The higher an industry's concentration ratio is, the more competitive the industry is.
Answer the following statement true (T) or false (F)
The production possibilities frontier shows the ________ combinations of two products that can be produced in a particular time period with available resources
A) minimum attainable B) maximum attainable C) only D) equitable