The national debt is ____ of the United States government and ___ of the people who hold it.
A. an asset; an asset
B. a liability; a liability
C. an asset; a liability
D. a liability; an asset
D. a liability; an asset
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We define net exports to be:
A. exports minus imports. B. imports minus exports. C. imports divided by exports. D. imports plus exports.
Assume that each day ten thousand children watch Sesame Street on public television and that watching Sesame Street generates a benefit of $100 per child per year. Once a year, public television holds a pledge drive asking viewers to make voluntary contributions in order to keep the programming available to everyone. The broadcast of Sesame Street yields a total social benefit of ________ per year.
A. $10,000 B. $100 C. $1,000,000 D. $0
An increase in the relative price of a good cannot be caused by
A. an increase in the nominal price of the other good while the price of the good itself remains constant. B. a decrease in the nominal price of the good that is less than the decrease in the nominal price of the other good. C. an increase in the nominal price of the good that is greater than the increase in the nominal price of the other good. D. a decrease in the nominal price of the other good while the price of the good itself remains constant.
One of the basic differences between social and economic regulations is that
A) economic regulations only apply to financial institutions while social regulations apply to a greater variety of institutions. B) social regulations only apply to non-profit organizations while economic regulations apply only to for-profit organizations. C) economic regulations cover only particular industries while social regulations apply to all firms in the economy. D) economic regulations focus on the banking industry while social regulations focus on monopolies.