Most of the public debt is owed to citizens and domestic institutions. This is one reason that the public debt:
A. has a procyclical economic effect on the economy.
B. can result in the bankruptcy of the federal government.
C. crowds out private investment.
D. does not impose a burden on future generations.
Answer: D
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The relationship between consumer expenditures and disposable income is the:
a. savings function. b. the tax rate function. c. disposable income function. d. consumption function.
"As long as total revenue slopes up, marginal revenue must slope up also." Explain whether this statement is true or false
Consider the following data for men and women: Men Women Average Hourly Wage:$12.40 $9.90 Average Years of Work Experience: 14.3 9.5 If a regression estimates the return to experience for men, ?M, to be 0.25, how much of the average difference in wages can be attributed to differences in work experience and how much can be attributed to discrimination and/or unobservable characteristics?
A. $1.20 to differences in work experience; $1.30 to discrimination/unobservable characteristics B. $1.30 to differences in work experience; $1.20 to discrimination/unobservable characteristics C. $0.00 to differences in work experience; $2.50 to discrimination/unobservable characteristics D. $1.50 to differences in work experience; $1.00 to discrimination/unobservable characteristics E. $2.50 to differences in work experience; $0.00 to discrimination/unobservable characteristics
If a production function has the property of diminishing marginal product, then doubling:
A. all of the inputs will less than double the output. B. all of the inputs will double the output. C. all of the inputs will more than double the output. D. one of the inputs will reduce its marginal product.