Which of the following portions of the national debt impose a net interest burden on the federal government?
A. treasury bonds held by government agencies
B. treasury bonds held by private investors
C. treasury bonds held by the Federal Reserve system
D. treasury bonds held in the Social Security Trust Fund
Answer: B
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Which of the following is a plausible solution to a distortion?
A. Imposing a tax or subsidy on the activity if the social marginal cost or the social marginal benefit exceeds the market price B. Shutting down any industry which is contributing to atmospheric pollution C. Imposing an importation ban on manufactured goods D. Centralizing the privately owned enterprises
For most producing firms:
A. marginal cost rises as output is carried to a certain level, and then begins to decline. B. total costs rise as output is carried to a certain level, and then begin to decline. C. average total costs rise as output is carried to a certain level, and then begin to decline. D. average total costs decline as output is carried to a certain level, and then begin to rise.
Refer to the information below. If the firms compete, what is the equilibrium quantity in the market?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month. A) 45,000 B) 500,000 C) 450,000 D) 50,000
Positive economics is a method of inquiry that attempts to explain the observable, and is limited to verifiable statements, while normative economics suggests a course of action that we should take based on a particular set of values and preferences
a. True b. False Indicate whether the statement is true or false