The "implicit debt" accompanying the Social Security and Medicare programs is
a. substantially greater than the national debt.
b. approximately equal to the national debt.
c. about half the size of the national debt.
d. about one tenth the size of the national debt.
A
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The following graph is the production possibilities frontier of a nation:
Refer to the graph. The combination "5 drill presses and 2 units of bread" indicates an
A. inefficient combination for the nation. B. ideal combination for the nation. C. efficient combination for the nation. D. unattainable combination for the nation.
The seven members of the Board of Governors of the Federal Reserve are appointed by
A) Congress. B) the Treasury Department. C) the President. D) leaders in the banking industry. E) the Governors of the States.
If the unemployment rate rises, which policies would both be appropriate to reduce it?
a. increase taxes, increase government spending b. increase taxes, decrease government spending c. decrease taxes, increase government spending d. decrease taxes, decrease government spending
The demand for dollars will increase when
A. U.S. labor productivity increases relative to the world. B. U.S. residents develop a taste for more imported products. C. real interest rates in the United States fall. D. the world is perceived as more stable than it used to be.