Most of the U.S. national debt is owed to ____. Thus a rising national debt implies that there will be a future redistribution of income and wealth in favor of ____
a. foreigners; foreigners
b. other U.S. citizens; bondholders
c. foreigners; those needing government services
d. other U.S. citizens; those needing government services
b
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In the short run, the profitability of monopolistic competition _______ that of perfect competition; in the long run the profitability of monopolistic competition _______ that of perfect competition.
Fill in the blank(s) with the appropriate word(s).
OPEC formed as a result of:
A. a desire to control the pricing on members' resources. B. political agitation against capitalism. C. the need to fix prices. D. the request of OECD.
Explain how globalization has caused some goods to be cheaper.
What will be an ideal response?
According to new growth theory, economic growth is driven by
A. the division of labor. B. new ideas. C. higher birth rates. D. positive externalities.