The national debt is unlikely to cause national bankruptcy because the federal government can:
a. All of the answers are correct.
b. refinance its debt.
c. raise taxes.
d. print money.
a
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Refer to Figure 2-9. Which country has a comparative advantage in the production of popsicles?
A) Greenland B) They have equal productive abilities. C) Iceland D) neither country
The additional cost to a firm of producing one more unit of a good or service is the
A) total cost. B) opportunity cost. C) marginal cost. D) minimum cost.
Refer to the graph shown. The economy is in a short-run equilibrium at:
A. point A. B. point B. C. point C. D. no point in the graph.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.