Debt service refers to:
A. how much debt a country incurs each year.
B. the fraction of a country's debt that becomes due each year.
C. the interest rate a country pays on its debt.
D. the interest payments a country makes on its debt each year.
Answer: D
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Residential construction did not return to its 1926 high levels until 1949
Indicate whether the statement is true or false
Even the demand for a necessity such as gasoline will respond to a change in price, especially over a longer time horizon
a. True b. False Indicate whether the statement is true or false
Tina Eckstrom and her husband bought a deferred annuity that started paying them $700 a month in retirement benefits. They, along with millions of other people who live on fixed incomes, are examples of:
A. those who are responsible for inflation. B. the big winners from inflation. C. the big losers from inflation. D. the paradox of thrift.
The principle that "as one input increases while the other inputs are held fixed, output increases at a decreasing rate" is known as the:
A. marginal principle. B. principle of opportunity cost. C. principle of diminishing returns. D. spillover principle.