Q: The portion of the national debt owed to citizens of other countries
The portion of the national debt owed to citizens of other countries a) is economically irrelevant however big it is. b) is economically important, but it has been falling in recent years. c) is e...
See AnswerQ: The largest single item in federal spending is a) international
The largest single item in federal spending is a) international aid. b) welfare. c) interest on the debt. d) Social Security.
See AnswerQ: The “creation” of money is a) entirely the
The “creation” of money is a) entirely the purview of Congress. b) entirely the purview of the Federal Reserve. c) formally the purview of the Federal Reserve, constitutionally the purview of Cong...
See AnswerQ: The aggregate demand-aggregate supply model examines the impact of discretionary
The aggregate demand-aggregate supply model examines the impact of discretionary fiscal policy and nondiscretionary fiscal policy by focusing on movements of a) interest rates. b) aggregate supply....
See AnswerQ: The consumer price index (CPI) is a heavily criticized measure
The consumer price index (CPI) is a heavily criticized measure of inflation because a) the government does nothing to fix its known deficiencies. b) it consistently understates the increase in the c...
See AnswerQ: Economic theory would suggest that the profitability of an industry would be
Economic theory would suggest that the profitability of an industry would be a) directly related to the number of firms competing in the industry. b) inversely related to the number of firms competi...
See AnswerQ: Substitution in the context of the “rational terrorist model” suggests
Substitution in the context of the “rational terrorist model” suggests that a clampdown at airports will a) end terrorism. b) cause terrorists to target airports even more as they attempt to show th...
See AnswerQ: Whether marginal revenue is constant or decreasing depends on a)
Whether marginal revenue is constant or decreasing depends on a) whether the firm is benefiting from the division of labor. b) whether the firm is dealing with diminishing returns. c) how much the...
See AnswerQ: Combined the consumer surplus and producer surplus at equilibrium is a
Combined the consumer surplus and producer surplus at equilibrium is a) lower than it would be at prices below equilibrium. b) lower than it would be at prices above equilibrium. c) typically nega...
See AnswerQ: If the supply and demand curves cross at a quantity of 100
If the supply and demand curves cross at a quantity of 100, then the price necessary to get firms to sell more than that will have to be _______ equilibrium. a) above b) at c) below d) within 10 p...
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