If debt-financed less productive government spending crowds out more productive private investment, future generations will bear
A. All of the burden of the debt due to higher taxes.
B. A portion of the burden of the debt relative to the population size.
C. Some of the burden of the debt due to lower productive capacity.
D. Zero burden as a result of the debt.
Answer: C
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Labor unions composed of workers who engage in a particular trade or skill, such as carpentry, are called
A) craft unions. B) industrial unions. C) collective unions. D) closed unions.
At the equilibrium point in a perfectly competitive industry, the total surplus (the sum of the consumer surplus and producer surplus) will be at its maximum.
Answer the following statement true (T) or false (F)
Former Fed Chairman Alan Greenspan has argued that low ___________ interest rates, not ______________ interest rates, were the cause of the housing boom in the late 1990s and early 2000s. He also argued that the Fed has more control over _______________ rates than over ____________ rates
A) long-term; short-term B) long-term; long-term C) short-term; short-term D) short-term; long-term
Which of the following are flows, not stocks?
a. Your wealth b. The interest that you get from that loan you made c. The value of your home d. Your income