External debt refers to the portion of the national debt owned by private individuals and internal debt refers to that part owned by the public sector
a. True
b. False
Indicate whether the statement is true or false
False
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If Sally drives less carefully after buying auto insurance, she illustrates
A) adverse selection. B) negative selection. C) moral hazard. D) lemon hazard.
The IS curve shifts when all of the following variables change except
a. tax rates. b. interest rates. c. government spending. d. the marginal propensity to consume. e. both b and d.
If the minimum wage is set at a level below the equilibrium wage it:
A. will have a large effect. B. would be a nonbinding minimum wage. C. would interfere with the market reaching equilibrium. D. will probably affect government jobs more than any other job market.
Suppose the price elasticity of supply for crude oil is 2.5. How much would price have to rise to increase the quantity supplied by 20%?
A. 20% B. 8% C. 12.5% D. 45%