About what percentage of the public debt was held by U.S. government agencies and the Federal Reserve in 2015?
A. 15 percent
B. 41 percent
C. 34 percent
D. 26 percent
Answer: B
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Special Grapes is a new wine company that wants to locate its vineyard in Sonoma Country, California, an exclusive area of the world for wineries. Which of the following will likely have the largest effect on Special Grapes' input prices?
A) land prices in Sonoma County, California B) compensating wage differentials C) traffic regulations in Sonoma County, California D) the additional wages Special Grapes will have to pay its employees to work in Sonoma County, California
In the base year:
A. nominal and real GDP are equal by definition. B. real GDP will only be larger than nominal GDP if prices increased in the base year. C. nominal GDP is always larger than real GDP because prices are held constant. D. real GDP is always larger than nominal GDP because prices are held constant.
Two firms produce different goods. Firm 1 has a positive-sloped reaction function. This can be explained best by:
A. heterogeneous product Bertrand oligopoly. B. homogeneous product Bertrand oligopoly. C. homogeneous product Cournot oligopoly. D. None of the answers is correct.
Which of the following will tend to occur when a surplus exists in a market?
A) supply will increase and demand will decrease until the surplus disappears. B) supply will decrease and demand will increase until the surplus disappears. C) the price will tend to rise over time. D) the price will tend to decrease over time.