If the inflation rate is 7 percent, real GDP growth is 2 percent, and the current budget deficit is $100 billion, what must the current national debt be if the debt-GDP ratio is to remain the same?

"Opportunity cost" is

A) the monetary cost of one's actions. B) the objective cost of one's actions. C) the regret one feels when making a sacrifice. D) the value one places on the item, project, or plan he has chosen to pursue. E) none of the above.

In the short run, a firm that incurs losses might choose to produce rather than shut down if the amount of its revenue is less than its fixed cost

Indicate whether the statement is true or false