Gross public debt minus all government interagency borrowing is
A) government budget deficit. B) an entitlement.
C) U.S. Treasury bonds. D) net public debt.
D
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Suppose that you have noticed that almost all of the car dealers in your city are located along a three-block stretch of the same street. A likely reason for this clustering of car dealers is that:
A. each dealer sells a different brand of car, so they are not competitors and do not have to be concerned about the other dealers' locations. B. the dealers are better able to form a cartel. C. there is a social norm in that city that dealers follow in choosing location. D. each dealer is attempting to locate closest to the customers.
If a company plots its total profit curve, it would show
A. that the curve has a negative slope over the entire range of output. B. that the slope of the curve is negative, then zero and then becomes positive as output increases. C. that the slope of the curve is positive, then zero and then becomes negative as output increases. D. that slope is a constant at a value of one.
If you take out a mortgage with a nominal interest rate of 8% and you expect the inflation rate to be 2%, but the actual inflation rate turns out to be 8%, then you end up paying a real interest rate of
A) 0%. B) 1%. C) 2%. D) 6%.
According to _______________, if you suddenly inherited a large sum of money, you would spend only a small part of your inheritance right away.
A. the paradox of thrift B. the permanent income hypothesis C. Thorstein Veblen's Theory of the Leisure Class D. the theory of the multiplier