Nearly half of the publicly held U.S. federal debt are held by foreigners
a. True
b. False
Indicate whether the statement is true or false
True
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When the quantity of labor demanded exceeds the quantity of labor supplied, the real wage rate
A) rises to eliminate the labor-market shortage. B) falls to eliminate the labor-market surplus. C) rises to eliminate the labor-market surplus. D) falls to eliminate the labor-market shortage.
Suppose that medical researchers discover a new drug which slows the aging process, allowing the average life span in the United States to increase to 95 years of age. The permanent-income hypothesis suggests that
A) consumption spending would increase since lifetime income increases. B) consumption spending would increase since estimates of permanent income would increase. C) consumption spending would decrease since savings would rise to provide income for the longer retirement periods. D) None of the above is correct since predicted future annual incomes may not change.
There is much agreement among policy analysts and researchers that the 1996 welfare reform has failed
a. True b. False
Suppose that Pedro buys a mountain bike for $200, for which he was willing to pay up to $300 . What is Pedro's consumer surplus in this transaction?
a. $100 b. $200 c. $300 d. $500