The public debt in the United States is the total value of government securities held by
a. foreign governments
b. private individuals
c. businesses
d. everyone holding any part of the debt
e. itself
D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Primary dealers are those
A) permitted to trade directly with the Fed. B) who work under the account manager at the Federal Reserve Bank of New York. C) who specialize in selling bonds to small private investors. D) responsible for assuring that interest rates do not decline unless the FOMC has given specific instructions that they decline.
Suppose a basket of goods and services has been selected to calculate the CPI and 2014 has been selected as the base year. In 2013, the basket's cost was $80; in 2014, the basket's cost was $86; and in 2015, the basket's cost was $90 . The value of the CPI in 2015 was
a. 112.5 and the inflation rate was 12.5%. b. 112.5 and the inflation rate was 4.6%. c. 104.6 and the inflation rate was 4.6%. d. 104.6 and the inflation rate was 12.5%.
Suppose that Tom bought a bike from Helen for $195. If Helen's reservation price was $185, and Tom's reservation price was $215, the total economic surplus from this transaction was:
A. $195 B. $30 C. $215 D. $185