By the end of 2011, the federal debt was about
A. $20 billion.
B. $80.6 billion.
C. $1 trillion.
D. $10.1 trillion.
D. $10.1 trillion.
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A government with a national debt that is large and growing relative to the size of the economy will
a. eventually find it difficult to borrow in global credit markets. b. be able to borrow at lower interest rates than countries with less outstanding debt. c. have to allocate a large and growing amount of tax revenue to the payment of interest on the outstanding debt. d. do both a and c.
According to classical economics, the amount that people save depends on the _____.
Fill in the blank(s) with the appropriate word(s).
Under President Lyndon Johnson, the federal government actually decreased its involvement in the economy.
Answer the following statement true (T) or false (F)
A cartel is a group of firms that ________ to make price and output decisions.
A. implicitly colludes B. are unable C. act independently D. explicitly colludes