The federal government debt refers to
A) the accumulation of past budget deficits.
B) government spending plus transfer payments minus tax revenues.
C) tax revenues minus government spending and transfer payments.
D) the total value of U.S. Treasury bonds outstanding.
D
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Refer to the Article Summary. The convertible peso (CUC) is worth 25 times the peso (CUP), yet Cuban officials have for years treated the two currencies as being of equal value. This indicates that the peso (CUP) is ________ compared to the convertible peso (CUC), and would need to be ________ for the two currencies to reach the market equilibrium exchange rate.
A) overvalued; revalued B) undervalued; devalued C) overvalued; devalued D) undervalued; revalued
If the educational attainment of a nation's population increases, the economy's production possibilities curve shifts inward
a. True b. False Indicate whether the statement is true or false
If the income tax system were indexed, a person whose nominal income went up from $30,000 to $33,000 in a year when the price index rose by 10 percent would pay
A. no increases in nominal income taxes. B. no increases in real income taxes. C. lower taxes in both real and nominal terms. D. higher taxes in both real and nominal terms.
Karole's income rises from $50,000 to $75,000 and her income tax increases from $8,000 to $9,500.Her average tax rate is 6%
a. True b. False Indicate whether the statement is true or false