Which of the following is the best measure of the total amount that the federal government owes to private owners of U.S. Treasury securities?
A) the government budget deficit B) the gross public debt
C) government interagency borrowing D) the net public debt
D
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Which of the following is not characteristic of perfect competition?
a. many buyers and sellers b. brand name advertising c. standardized products d. fully informed buyers and sellers e. free entry and exit of firms
The law of increasing costs states that
A. opportunity costs decrease as more of one good is produced. B. increasing resource prices are inevitable because of scarcity. C. opportunity costs increase as more of one good is produced. D. resources can be easily adapted to the production of any good
Deadweight loss is the decrease in ________ from producing an inefficient amount of a product
A) only consumer surplus B) only producer surplus C) consumer surplus and producer surplus D) profit
Under rate of return regulation, a regulated firm has an incentive to
A) use an efficient amount of capital. B) set its price equal to its marginal cost. C) hide losses from bad debts. D) inflate its costs.