Social surplus is:
A) the product of consumer surplus and producer surplus.
B) the consumer surplus minus producer surplus.
C) the ratio of consumer surplus to producer surplus.
D) the sum of consumer surplus and producer surplus.
D
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If the economy is fully employed, which of the following is true?
A) The price level equals 100. B) Real and nominal GDP are equal. C) Real and potential GDP are equal. D) The unemployment rate is zero. E) Real GDP cannot increase.
What department of the federal government issues public debt and in what form?
a. Department of Commerce issues the debt and the debt is in the form of Fed bonds, Fed bills, and Fed notes b. The Federal Reserve issues the debt and the debt is in the form of Treasury bonds, Treasury bills, and Treasury notes c. The Federal Reserve issues the debt and the debt is in the form of Fed bonds, Fed bills, and Fed notes d. Department of the Treasury issues the debt and the debt is in the form of Treasury bonds, Treasury bills, and Treasury notes e. Department of Commerce issues the debt and the debt is in the form of its own bonds, bills, and notes