The "real burden" of the debt is directly related to
A. The idea of opportunity cost.
B. How transfers redistribute income.
C. The relationship between the Treasury and the Federal Reserve System.
D. The difference between internally held debt and externally held debt.
Answer: A
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Suppose all firms in a perfectly competitive industry have production processes characterized by the production function 
. Suppose the cost of labor is 20 and the cost of capital is 10.
a. Suppose that the industry is in long run equilibrium and that firms are using 1 unit of capital. What is the short run cost function of each firm?
b. Suppose there are 5,000 firms in long run equilibrium. What is the short run market supply function?
c. Suppose market demand is 
What is the equilibrium price?
d. Firms in this industry face a recurring fixed cost FC. What must FC be in order for this industry to indeed be in long run equilibrium with its 100 firms?
What will be an ideal response?
Your real wealth is measured as the
A) amount of assets you have in dollar terms. B) amount of money you have. C) amount of goods and services your wealth will buy. D) amount of goods you have divided by the price level.
To have an ideal voting system in place, if a group is voting on option X versus option Y, this decision should not depend on any information or preference about another unconnected option, Z. In other words, which of the following criteria must be present in the voting system?
A. Independence of irrelevant alternatives B. Transitivity C. No dictator D. Unanimity
A market with more than one seller and significant barriers to entry is called
a. perfect competition b. monopolistic competition c. an oligopoly d. collusive e. regulated