The national debt is the
a. difference between a nation's exports and imports of goods and services.
b. sum of the personal debt of all citizens in the United States.
c. indebtedness of the federal government in the form of outstanding interest-earning bonds.
d. sum of the net personal debts of Americans to foreigners.
C
You might also like to view...
The liquidity of money refers to
A) the amount of gold it is backed by. B) how quickly it can be disposed of without high transaction costs. C) asymmetric information. D) the standard of deferred payments and how quickly those payments can be made.
In a competitive industry where different firms have different cost structures, the industry supply curve is:
A) upward sloping. B) downward sloping. C) vertical. D) horizontal.
An increase in revenue causes economic profit to rise
Indicate whether the statement is true or false
Scarcity would cease to exist as an economic problem if: a. we learned to cooperate and not compete with each other
b. there were new discoveries of an abundance of natural resources. c. output per worker increased. d. none of the above.