The public debt is
A) an excess of government spending over government revenues during a given time period.
B) all federal government debt irrespective of who owns it.
C) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period.
D) the total value of all outstanding federal government securities.
D
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The monopolistically competitive seller's demand curve will become more elastic with
A. a smaller number of competitors. B. a greater degree of product differentiation. C. a larger number of competitors. D. more significant barriers to entry.
Fiscal stimulus is most likely to direct resources into productive projects when spending decisions are left in the hands of
What will be an ideal response?
Refer to the information provided in Table 8.2 below to answer the question(s) that follow.
Table 8.2 
Refer to Table 8.2. If Sherry produces zero earrings, her total fixed costs are
A. $0. B. $50. C. $100. D. indeterminate from this information.
Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. How many people are unemployed?
A) 20 B) 40 C) 60 D) 80 E) 100