If the national debt is owed to foreigners,
a. the debt constitutes a burden to domestic citizens.
b. economic growth will necessarily be higher than if the debt were owed to domestic citizens.
c. paying off the debt will involve a transfer of resources within the country.
d. future interest payments on the debt are not a burden to the nation.
a
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In a Betrand price-setting duopoly model, the equilibrium output:
a. will be equal to the monopoly output. b. will be equal to the competitive market output. c. will lie between the monopoly and the competitive market output. d. will be higher than the monopoly output.
Total cost is comprised of __________.
Fill in the blank(s) with the appropriate word(s).
A drop in the price of oil will result in
A. an increase in the demand for oil. B. a decrease in the demand for oil. C. an increase in the quantity of oil demanded. D. a decrease in the quantity of oil demanded.
During the first year of the Obama administration in 2009, the American economy experienced
A. low unemployment. B. stagnation. C. slow rate of growth. D. deflation.