If the federal government has a budget surplus, then the national debt is:
a. reduced.
b. fully repaid.
c. negative.
d. interest-free.
a
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Entrepreneurs tend to have a comparative advantage in
A) arbitrage. B) manipulating market prices. C) stealing other people's ideas. D) selling their products below cost. E) hiring others to act as residual claimants.
What are some of the main ways in which the economies of developing countries differ from one another?
What will be an ideal response?
Which of the following is not part of GDP?
a. the value of a new home built and purchased during the year b. the value of shares of Microsoft stock bought and sold during the year c. the value of long distance telephone services rendered during the year d. the value of new furniture produced during the year
A monopoly firm is different from a perfectly competitive firm in that
A. there are many substitutes for the monopolist's product, whereas there are no close substitutes for the perfectly competitive firm's product. B. the monopolist's demand curve is perfectly inelastic, whereas the perfectly competitive firm's demand curve is perfectly elastic. C. the monopolist can influence price in the market, whereas the perfectly competitive firm is a price taker. D. All of these choices are true.