Gross federal debt held by the public is equal to
A) total gross federal debt.
B) the federal debt held by the Fed minus the federal debt held by other countries.
C) the federal debt held by other countries plus the federal debt held by private investors.
D) the federal debt held by the Fed plus the federal debt held by private investors.
D
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A decrease in interest rates
A) increases the value of the dollar, net exports, and equilibrium output. B) increases the value of the dollar, reducing net exports and equilibrium output. C) reduces the value of the dollar, net exports, and equilibrium output. D) reduces the value of the dollar, increasing net exports and equilibrium output.
Lump sum transfers ________ because they _______.
A. compromise efficiency; distort choices B. don't compromise efficiency; distort choices C. compromise efficiency; don't distort choices D. don't compromise efficiency; don't distort choices
Exhibit 3-4 Supply curves
In Exhibit 3-4, which of the following could have caused the shift in the supply curve from S1 to S2?
A. Increase in demand. B. Increase in materials cost. C. Decrease in the number of suppliers in the market. D. Decrease in wage rates.
Starting from long-run equilibrium, a sharp drop in oil prices results in ________ output in the short run and ________ output in the long run.
A. lower; higher B. higher; higher C. higher; potential D. lower; potential