Until the 1980s, most of the national debt was
A. owned by foreigners.
B. acquired either during wars, especially World War II, or during recessions.
C. owned by banks.
D. financed by printing money.
Answer: B
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Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee falls from $6 to $4, the market quantity demanded would
A) decrease by 89 lbs. B) increase by 110 lbs. C) increase by 61 lbs. D) increase by 26 lbs.
During periods of high inflation, people want to hold as much money as possible
a. True b. False Indicate whether the statement is true or false
The public sector of the U.S. economy includes:
a. the federal, state, and local government. b. multinational corporations and the federal government. c. the Federal Reserve bank of the U.S. d. the judiciary and the federal government. e. households.
Marty's Bird House suffers a short-run loss. Marty can reduce his loss below the amount of his total fixed costs by continuing to produce if his revenue
A) exceeds his implicit costs. B) exceeds his nonmonetary opportunity costs. C) exceeds his variable costs. D) exceeds his marginal costs.