The average U.S. citizens' share of the government debt represents less than 2 percent of a person's lifetime income
a. True
b. False
Indicate whether the statement is true or false
True
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Asymmetric information contributes to
A) the adverse selection problem. B) the moral hazard problem. C) both the adverse selection problem and the moral hazard problem. D) neither the adverse selection problem nor the moral hazard problem.
The primary responsibilities of the ________ are the assessment and collection of all duties, taxes, and fees on imported merchandise, the enforcement of customs and related laws, and the administration of certain navigation laws and treaties.
A) U.S. Customs and Border Protection B) U.S. Secret Service C) Internal Revenue Service D) Food and Drug Administration
Monopolistic competition is similar to a monopoly because firms in both industries
A. sell products with no close substitutes. B. sell differentiated products. C. have freedom of entry and exit. D. have some control over price.