If no foreign residents owned any of the U.S. public debt, then it would be TRUE that

A. there would be no interest payments on the public debt.
B. U.S. residents would essentially owe the public debt to themselves.
C. there would be no distributional consequences associates with he public debt.
D. the public debt would naturally disappear over time.


Answer: B

Economics

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Jeans in general have fewer close substitutes than a specific brand of jeans. Therefore, the demand for jeans in general will be ________ than the demand for a specific brand of jeans.

A. less inelastic B. less elastic C. more unit elastic D. more elastic

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Suppose you are deciding whether to spend your tax rebate check on a new iPod or a new digital camera. You are dealing with the concept of

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