Much of the U.S. debt is held internally.
Answer the following statement true (T) or false (F)
False
The largest portion of the U.S. debt is held externally by foreign individuals and firms, giving the United States less flexibility to run deficits. See information in Figure 31-1.
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Profit-maximizing firms enter a competitive market when existing firms in that market have
a. total revenues that exceed fixed costs. b. total revenues that exceed total variable costs. c. average total costs that exceed average revenue. d. average total costs less than market price.
When the size of the potential loss is small, most people will
A. insure because insurance costs less than the expected loss. B. self-insure because the expected loss cannot be calculated. C. self-insure because insurance companies do not like to insure for small losses. D. self-insure because they can afford it and the expected loss less than the insurance premium.
The marginal product of labor and the price of the output produced determine the:
A. worker mobility B. the demand for labor C. the price of labor D. the supply of labor
Which market model has the least number of firms?
A. Pure monopoly B. Pure competition C. Oligopoly D. Monopolistic competition