One concern over external national debt is that interest and principal payments transfer wealth overseas. The percentage of the national debt held in recent years by foreigners is approximately:
a. 5 percent.
b. 10 percent.
c. 20 percent.
d. 30 percent.
e. 50 percent.
d
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Under a fixed exchange rate system, if the inflation rate in the United States is 5 percent a year and the inflation rate in Australia is 0 percent a year, then the U.S. real exchange rate will
A) increase 5 percent a year. B) decrease 5 percent a year. C) remain constant. D) possibly increase or decrease.
Refer to Figure 4.2. The dominant strategy for Cameron is to
A) go to the movie theater. B) go to the bowling alley. C) go to either the movie theater or to the bowling alley. D) Cameron does not have a dominant strategy.
Which of the following best defines supply?
a. the amount of a good that producers want to sell at a particular price b. the amount of a good that consumers will buy c. the amount of a good that producers are willing and able to sell at each possible price, other things constant d. the amount of a good that producers are willing to sell at each possible price, other things constant e. the amount of a good that producers are willing and able to buy at each possible price, other things constant
Which of the following events create an outward shift of the production possibilities curve?
a. The United States moves resources from the production of goods for domestic production to the production of goods for export. b. Tax reductions reduce the cost and increase the volume of investment in factories, machinery, and research and development. c. There is an exodus of young people to another country where there is more political freedom. d. The unemployment rate falls from 33 percent to 12 percent.