The net national debt is smaller than the gross national debt because
A. some debt is held by foreigners.
B. some debt is held by U.S. citizens.
C. some debt is held by government agencies.
D. the government does not have to pay all of the debt.
Answer: C
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Reserves are a bank ________ consisting of ________
A) asset; vault cash plus bank deposits with the Federal Reserve B) asset; checking account deposits and savings account balances C) liability; vault cash plus bank deposits with the Federal Reserve D) liability; checking account deposits and savings account balances
Suppose 10 workers jointly own and farm a piece of land. They all consume the farm's output in equal shares. If one worker decides to shirk and cuts her labor effort by 50 percent,
a. her consumption will decrease by 50 percent. b. her consumption will decrease by greater than 50 percent. c. her consumption will decrease by less than 50 percent. d. her consumption will not change.
A monopoly will price its product:
a. where total revenue is maximized. b. where total costs are minimized. c. at that point on the market demand curve corresponding to an output level in which marginal revenue equals marginal cost. d. at that point on the market demand curve which intersects the marginal cost curve.
The Dodd-Frank bill is new financial regulation
Indicate whether the statement is true or false