Since the U.S. government can continue to issue new Treasury bonds, bills, and notes as old ones mature, we do not necessarily have to worry about suddenly have to pay back all of the national debt
a. True
b. False
Indicate whether the statement is true or false
True
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The cyclical unemployment rate changes with business cycle fluctuations
Indicate whether the statement is true or false
A monopolist produces
a. more than the socially efficient quantity of output but at a higher price than in a competitive market. b. less than the socially efficient quantity of output but at a higher price than in a competitive market. c. the socially efficient quantity of output but at a higher price than in a competitive market. d. possibly more or possibly less than the socially efficient quantity of output, but definitely at a higher price than in a competitive market.
In the parable of the leaky bucket, a fundamental problem with government redistribution programs is identified. As long as the government only has "leaky buckets" at its disposal,
a. the costs of welfare programs will exceed the benefits. b. it should not try to reach complete equality in income. c. income equality will be the best policy option. d. equality of economic opportunity will reduce society's utility.
Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the question(s) that follow.
Figure 2.1Refer to Figure 2.1. The shape of Macroland's production possibility frontier shows
A. random opportunity costs. B. increasing opportunity costs. C. constant opportunity costs. D. decreasing opportunity costs.