National debt is the federal government’s total indebtedness at a moment in time.
Answer the following statement true (T) or false (F)
True
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What do Baack and Ray (1983) find in their survey of U.S. tariff history?
(a) Tariff rates in the U.S. were low. (b) Tariff cuts were associated with the fast-growing industries. (c) The highest tariff rates in the U.S. were associated with the fastest growing industries. (d) The U.S. was a world leader in free trade policy.
Harry wants to buy an electric guitar. Which of the following would be the most efficient way for him to do this?
a. Sell a stock. b. Withdraw money from a CD. c. Take cash out of the bank. d. Sell a U.S. Treasury bill.
Which of the following was an observable effect of the North American Free Trade Agreement (NAFTA)?
A. Imports of clothing and textiles into the member countries were diverted away from low-cost suppliers in Asia. B. NAFTA led to a substantial decrease in the volume of trade among the three member countries. C. There was massive shift of jobs toward Mexico. D. Low-cost firms in Canadian manufacturing industries were replaced by the high-cost firms.
Major causes of the increase in U.S. federal budget deficits between 2001 and 2008 were
A. investment in decaying public infrastructure and caring for The Lost Generation. B. high interest rates and expansionary monetary policy. C. tax cuts, and spending on homeland security, the war in Iraq, the war in Afghanistan. D. research into HIV/AIDS and the new lunar landing mission.