With regard to the national debt, to whom does the federal government owe money?
a. Taxpayers.
b. Federal government workers.
c. The Federal Reserve System.
d. Investors who buy U.S. Treasury bills, bonds, and notes.
d
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What might happen to the equilibrium price and quantity of Disney World tickets if Universal Studios offers discounts to families?
A. Price of Disney World tickets decreases, and quantity bought decreases B. Price of Disney World tickets increases, and quantity bought decreases C. Price of Disney World tickets decreases, and quantity bought increases D. Price of Disney World tickets increases, and quantity bought increases
On a graph of the consumption function, where the consumption function is below the 45 degree line, there is
A) zero disposable income. B) saving. C) maximum disposable income. D) no induced consumption. E) dissaving.
The slope of an individual's "consumption-leisure" budget constraint is:
a. 24 hours minus the number of leisure hours. b. total consumption divided by the wage rate. c. the real wage rate. d. the negative of the real wage rate.
The marginal rate of technical substitution is
A. the rate at which the firm can substitute labor for capital while holding total cost constant. B. the rate at which the firm can substitute labor for capital while holding output constant. C. the market rate of exchange between labor and capital. D. both a and b E. both a and c