The total federal debt is equal to
A) the total value of all U.S. currency in circulation.
B) the sum of all past deficits minus the sum of all past surpluses.
C) the federal budget deficit minus the federal budget surplus.
D) annual federal tax receipts plus annual federal expenditures.
B
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Suppose Alcoa Inc is a monopsonist employer. Using the concept of marginal factor cost, each time Alcoa increases the number of workers it hires, it will:
Which factor of production earns the highest percentage of total U.S. in-come? Define that factor of production. What is the income earned by this factor of production called?
What will be an ideal response?
If a monopolistically competitive firm earns $500,000 by selling 25,000 units of output, the price of its product is $25
a. True b. False Indicate whether the statement is true or false
Aristotle writes, "What is common to many is taken least care of, for all men have greater regard for what is their own than for what they possess in common with others.". In this statement, Aristotle is referring to the free-rider problem that occurs when a person receives the benefit of a good without paying for it
a. True b. False Indicate whether the statement is true or false