Will the national debt have to be paid off (i.e., reduced to zero) in the future?
a. No, it can continually be refinanced
b. Yes, if it is not paid off, the U.S. Treasury will have to file for bankruptcy.
c. No, technically, it is not a contractual obligation of the federal government.
d. Yes, but since most of the debt is held by Federal Reserve Bank, its re-payment would merely involve an accounting transaction between the Fed and the Treasury.
a
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Compared to the situation in which it sets a single price, a monopoly that price discriminates ________ its economic profit and ________ its output
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) increases; does not change
If the market price falls from P0 to P1 in the above figure, then
A) a new equilibrium quantity is established. B) there is a shortage equal to the distance EF. C) there will be a further tendency for price to fall. D) there is a surplus of goods on the market equal to the distance Q1, Q2.
Economic mobility in the United States is
a. uncommon. Over 50 percent of poor families remain poor for 8 or more years. b. uncommon. Over 75 percent of poor families remain poor for 8 or more years. c. common. Fewer than 3 percent of poor families remain poor for 8 or more years. d. common. Fewer than 1 percent of poor families remain poor for 8 or more years.
A nation's production possibilities curve should, ceteris paribus, shift
A. Inward if gross investment exceeds depreciation. B. Outward if net investment is positive. C. Inward if net investment is zero. D. Outward if gross investment is positive.