The national debt is:
a. the difference between a nation's exports and imports of goods and services.
b. the sum of the personal debt of all citizens in the United States.
c. the cumulative effect of all past budget deficits and surpluses of the federal government.
d. equal to the current size of the budget deficit.
c
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A tax that does not change consumers’ behavior creates no
A. economic burden. B. excess burden. C. tax revenue. D. tax incidence.
which is correct?
Federal Reserve notes are an asset to the Federal Reserve. Gold is a liability to the Federal Reserve. Foreign exchange is an asset to the Federal Reserve.
Which of the following are reasons to suspect spending on education might overestimate human capital investment?
A) Education spending leaves out foregone wages. B) Part of total spending on education is really consumption. C) Much human capital investment comes from on-the-job training. D) all of the above E) none of the above
In the agriculture sectors in the Global South, productivity tends to be ________ because farmers work with ________.
A. high; large amounts of capital B. low; little labor C. high; large amounts of labor D. low; little capital