Japan
A) has significant debt problems because of a shrinking and aging population
B) has avoided debt default because of purchases of debt by its own citizens and low interest rates
C) has a debt to GDP ratio more than double that of the U.S.
D) all of the above
Answer: D) all of the above
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Inflation imposes a cost on society by directly decreasing average real income in the economy
a. True b. False
The demand curve facing a monopolist is
A. perfectly elastic. B. identical the demand curve for a perfectly competitive firm. C. perfectly inelastic. D. downward sloping.
A market in which there are many firms each selling differentiated products is most likely a ________ market.
A. perfectly competitive B. monopoly C. monopolistically competitive D. natural monopoly
What do economists mean when they say ceteris paribus?
What will be an ideal response?