The U.S. economy experiences a public debt when the value of its annual deficits exceeds the value of its annual surpluses over an extended period of time
Indicate whether the statement is true or false
True
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A contract requiring payment of an annual premium in exchange for the payment of a future stream of payments beginning at a specified age and continuing until death is
A) whole life insurance. B) an annuity. C) term life insurance. D) variable life insurance. E) universal life insurance.
A situation in which one party makes a contractual agreement with a second party in the expectation that the second party will act on its behalf is known as
a. an adverse selection relation b. a signaling relation c. an authority relation d. a principal-agent relation e. a nonmarket relation
Unemployment in the economy is represented by:
a. a rightward shift of the production possibilities curve b. points inside the production possibilities curve c. a change to a new point on the PPC d. a movement outside the PPC
What is the difference between average total cost and marginal cost and are they ever equal to each other?
What will be an ideal response?