The federal debt is a stock variable that measures the net accumulation of prior federal deficits
a. True
b. False
Indicate whether the statement is true or false
True
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Debt accumulation by the U.S. government in the 1980s:
A. Exceeded the debt the country had accumulated over the preceding 200 years. B. Was small compared with earlier periods of history. C. Was caused by war-related expenditures. D. None of the choices are correct.
The external cost of production is the cost incurred by
The external cost of production is the cost incurred by
A.
someone other than the producer.
B.
producing outside the facility.
C.
producing outside the country.
D.
producing a related external product.
If the unemployment rate is 7 percent, the United States economy is operating
A. inside the production possibility curve. B. on the production possibility curve. C. outside the production possibility curve.
A_________________is a situation where suppliers offer different amounts of products for sale at all possible prices in a market.
Fill in the blank(s) with the appropriate word(s).