The national debt refers to the total amount that the government:
a. has borrowed over time.
b. borrowed last year.
c. plans to spend this fiscal year.
d. has spent over time.
a. has borrowed over time.
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A condition for the use of eminent domain is that the property being taken
A) must remain the property of the government entity which authorized the use of eminent domain. B) must be intended for public use. C) must be undeveloped property. D) must be considered blighted property.
The product life cycle model says that comparative advantage in manufactured goods may move from one country to another as a product becomes more standardized
Indicate whether the statement is true or false
Investment banks operate in the
A) secondary market. B) primary market. C) syndicated market. D) money market.
Short-run supply curves for perfectly competitive firms tend to be upward sloping because:
A) there is diminishing marginal product for one or more variable inputs. B) marginal costs increase as output increases. C) marginal fixed costs equal zero. D) A and B are correct. E) B and C are correct.