Which of the following correctly describes the national debt?
a. The excess of annual federal expenditures over annual federal tax revenues.
b. Annual federal expenditures less annual federal tax revenues plus foreign U.S. bonds purchases.
c. The total amount of money owed by the federal government.
d. None of the above.
c
You might also like to view...
A company may borrow money from
A. banks. B. insurance companies. C. other firms. D. All of these responses are correct.
Jamestown's early years were marked by
a. a focus on futile "get rich quick" schemes. b. collective operations under which production methods and consumption were shared. c. lack of local control over production decisions. d. extremely high mortality rates. e. All of the above.
Government can
a. Create wealth by not interfering in the markets in any way what so ever b. Not affect wealth in the markets c. Create wealth by enforcing property rights and contracts d. Create wealth by making choice decisions for the market
If the U.S. dollar was worth 0.8 euros, and the dollar appreciated, it might now be worth:
A. 0.9 euros. B. 0.7 euros. C. 0.8 euros. D. None of these statements is possible.