According to the text, approximately what percentage of U.S. net public debt is held by foreign residents?
A) 50% B) 20% C) 90% D) 800%
A
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A New Keynesian firm produces the output at which
A) marginal revenue equals zero. B) marginal cost equals zero. C) its selling price equals marginal cost. D) marginal revenue equals marginal cost.
Procyclical policy:
What will be an ideal response?
Under a progressive tax system, the marginal tax rate could be equal to the average tax rate only when a taxpayer
a. has a very high income. b. has a very low income. c. is self-employed. d. invests in a retirement plan.
Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to:
A. fire Jill, practice law during the day, and do her own typing at night. B. practice law and leave all the typing to the secretary. C. divide her time equally between typing and practicing law. D. quit practicing law and take a job as a secretary.