The U.S. Treasury both pays and receives almost all of the interest on that portion of the national debt that is held by
a. domestic investors.
b. foreign investors.
c. government agencies and the Federal Reserve system.
d. commercial banks.
C
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Figure 5-12
In Figure 5-12, if a consumer equilibrium moves from B to A, this shows that
A. beer is an inferior good, but wine is a normal good. B. wine is an inferior good, but beer is a normal good. C. both beer and wine are normal goods. D. both beer and wine are inferior goods.
Which of the following is NOT an example of an opportunity cost?
A) By spending Thursday night studying for an economics exam, a student was unable to complete a homework assignment for calculus class. B) Because David used all of his vacation time to paint his house, he was unable to visit the Caribbean last year. C) Because Mary is now being paid a higher wage, she can afford to buy a new car even though she is moving into a bigger apartment. D) By choosing to attend college, Jean was not able to continue working as an electrician; as a result, she gave up more than $85,000 in earnings while she was in college.
In the prisoners' dilemma game, when each player takes the best possible action given the action of the other player, ________
A) a competitive equilibrium is reached B) one player denies and one player confesses C) both players deny D) a Nash equilibrium is reached
Which of the following is NOT a key component of every game?
A) Strategies B) Players C) Payoffs D) Cooperation