External debt is that portion of the national debt:
a. held by private investors.
b. held by the Federal Reserve.
c. that the United States does not intend to repay.
d. held by foreigners.
d
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For which product is the income elasticity of demand most likely to be negative?
A. bread B. computer software C. used clothing D. apps for iPads
In the figure above, if the firm is regulated using a marginal cost pricing rule, the deadweight loss created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no deadweight loss created.
If your disposable personal income increases from $40,000 to $48,000 and your consumption increases from $35,000 to $39,000 . your marginal propensity to consume (MPC) is:
a. 0.20. b. 0.40. c. 0.50. d. 0.80. e. 1.00.
Which of the following is an example of an expectation of inflation?
A. Producers expect their prices on average to be higher next year. B. Producers expect the prices they pay for raw materials to be higher next year. C. Workers expect that the prices they pay for goods and services will be higher next year. D. All of these are correct.