The public debt
A. refers to the debts of all units of government-federal, state, and local.
B. consists of the total debt of American households, businesses, and government.
C. refers to the collective amount that American citizens and businesses owe to foreigners.
D. consists of the historical accumulation of all federal government deficits and surpluses.
D. consists of the historical accumulation of all federal government deficits and surpluses.
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
The table above lists the market shares of the twenty makers of personal computers. The Herfindahl-Hirschman Index for this industry equals
A) 5. B) 250. C) 1250. D) 500.
How does a command-and-control policy differ from a market-based policy?
What will be an ideal response?
In order to reduce the possibility of adverse selection, banks should raise the interest rates charged on loans
a. True b. False Indicate whether the statement is true or false