The largest proportion of the U.S. public debt is held by
A. the Federal Reserve System.
B. the U.S. public (individuals, businesses, financial institutions, and government).
C. U.S. government agencies.
D. foreign individuals and institutions.
Answer: B
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The concept of odious debt implies
(a) an excessive debt. (b) a debt that is not the responsibility of the nation's people. (c) a large debt burden. (d) the total external debt of a nation's people.
The ________ measure of money contains items that are not direct media of exchange, such as ________
A) M1, checkable deposits B) M1, savings certificates C) M2, checkable deposits D) M2, savings certificates
The supply curve for a perfectly competitive industry is obtained by
a. making an empirical study of historical data. b. vertically summing the supply curves of firms in the industry. c. horizontally summing the average cost curves of firms in the industry. d. horizontally summing the supply curves of firms in the industry.
When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.