Public debt promotes overconsumption if
a. foreigners hold the debt
b. people fail to regard bonds as their personal assets
c. people view the government's liabilities as their own
d. the Federal Reserve buys bonds
e. people regard their bond holdings as part of their savings
E
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Refer to the scenario above. This game ________
A) has a unique Nash equilibrium B) has a unique dominant strategy equilibrium C) does not have a dominant strategy equilibrium D) does not have a Nash equilibrium
What does the labor theory of value imply about the wages workers are paid in a capitalistic society? Explain
What will be an ideal response?
Which of the following is a similarity between a tax and a subsidy in a competitive market without any externalities? a. Both result in deadweight loss
b. Both result in a decrease in demand. c. Both result in an increase in price. d. Both result in an increase in government revenue.
Refer to the graph shown. When price rises by 20 percent, quantity supplied rises by 25 percent. Which curve best demonstrates elasticity in this example?
A. A B. B C. C D. None of the answers is correct.