If the government owes $10.0 trillion and then borrows $700 billion more this year, this leads to
What will be an ideal response?
a debt of $10.7 trillion and a deficit of $700 billion.
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Suppose everyone in a town prefers spending on improved public transportation systems instead of public parks, and prefers spending on public parks instead of building a public zoo. A voting system that would ensure that zoo funding would never beat spending on transportation would demonstrate which criteria for an ideal voting system?
A. No dictator B. Transitivity C. Independence of irrelevant alternatives D. Unanimity
Which of the following does not take place in the direct finance market?
A) Ownership in corporations is sold in the form of preferred stock. B) Ownership in corporations is sold in the form of common stock. C) Corporate bonds are sold to savers. D) Deposits from savers are accumulated and loans made to borrowers.
Everything else held constant, increased demand for a country's ________ causes its currency to appreciate in the long run, while increased demand for ________ causes its currency to depreciate
A) imports; imports B) imports; exports C) exports; imports D) exports; exports
Clifford lives by the motto "Eat, drink and be merry today, for tomorrow doesn't matter." If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves
A) are horizontal straight lines. B) are vertical straight lines. C) show decreasing utility as one moves upward. D) cannot be determined from the information given.