Public debt held by foreigners is known as
a. international debt
b. external debt
c. tariffs
d. custom duties
e. debentures
B
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Competition results in the efficient product mix because
A) producers are setting MRT equal to minus the price ratio while consumers are setting MRS equal to minus the price ratio ensuring that MRT will equal MRS. B) consumers are on the contract curve. C) the slope of the production possibility frontier will equal the slope of the contract curve. D) the distribution of the final output is Pareto efficient.
Which of the following statements is correct?
a. Total surplus is the sum of consumer and producer surplus. b. Deadweight loss is the net loss of both consumer and producer surplus resulting from underproduction or overproduction of a product. c. Deadweight loss is a measure of market inefficiency. d. All of these.
Which of the following statements is true about the Canadian health care system?
a. Almost 50,000 Canadians travel abroad each year to avoid waiting lists for services. b. Canadian physicians are salaried employees of the provincial health plans. c. Canadians have the option of purchasing private health insurance if they can afford it. d. Canadian physicians are allowed to "balance bill" patients for certain high-cost procedures. e. Canadian hospitals have significant excess capacity that is used to treat patients from foreign countries.
Based on the graph showing a reduction in the growth of the money supply, if the inflation rate remains at 3 percent for a substantial amount of time, people will adjust their expectations regarding the inflation rate to this level, which ______.
a. shifts the short-run Phillips curve to the left
b. shifts the short-run Phillips curve to the right
c. moves the economy back down the Phillips curve to Point A
d. moves the economy back up the Phillips curve to Point B