When federal government expenditures exceed tax receipts, the Treasury must

Why is national defence provided by the government?

a) Free riders make it difficult for private markets to supply the socially optimal quantity. b) It is impossible for private markets to produce public goods. c) If the good were produced in private markets, most likely too much of the good would be produced. d) Products provided by the government can be produced more efficiently.

The definition of M2 includes

I. M1. II. money market mutual funds. III. currency held outside of banks. A) I and II only B) I and III only C) II and III only D) I, II, and III