In 2012, approximately what percent of the national debt was held by federal government agencies?
a. 1 percent
b. 19 percent
c. 29 percent
d. a little more than 80 percent
C
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When commercial banks extend loans, they are able to expand the supply of money in the United States because the U.S. has
a. a fiat supply of money. b. money that is backed by gold. c. a fractional reserve banking system. d. a system of federal deposit insurance.
Suppose the market for coffee is in equilibrium at a price of $5 per pound. This means that:
A. any producer who sells coffee can earn a positive economic profit. B. potential producers not producing coffee have reservation prices less than $5 per pound. C. potential consumers not buying coffee value it at less than $5 per pound. D. everyone can afford to buy coffee.
If Sam and Sally are off their contract curve for dining hall tickets and economics texts and they meet to move to the contract curve, describe the conversation that would likely take place.
What will be an ideal response?
Explain the meaning of the term dead capital, and discuss why its existence retards economic growth.
What will be an ideal response?