The national debt
a. can be paid off without major economic effects
b. need never be paid off
c. is no more serious a problem than is a corporation's debt
d. should not exist during a period of economic prosperity
e. is the simple sum of post budget deficits
B
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When we keep part of our wealth in a bank checking account, we are using money as a ________ because ________
A) store of value; we are holding the money to exchange for goods at a later time B) medium of exchange; we are holding the money to gain interest earned C) barter token; we are holding the money to exchange for goods at a later time D) unit of account; we are holding the money to exchange for goods at a later time E) unit of currency; we have agreed upon the value of the money with bank
During the antebellum period, the U.S. used more economic output and resources than were domestically available during expansions and less during contractions. International trade assisted during these cyclical times
Indicate whether the statement is true or false
The above figure shows the payoff to two firms in an industry deciding to make an investment in worker safety. Neither firm will make the investment because
A) each can benefit from the other firm incurring the costs. B) there is no benefit to making the investment. C) each firm pays for the other firm's investment. D) society does not care about worker safety.
Experimental effects, such as the Hawthorne effect,
A) generally are not germane in quasi-experiments. B) typically require instrumental variable estimation in quasi-experiments. C) can be dealt with using binary variables in quasi-experiments. D) are the most important threat to internal validity in quasi-experiments.