The federal debt is the
A. yearly federal tax revenues minus the yearly federal expenses.
B. amount towed to the federal government by other countries.
C. total amount owed to the public by the federal government.
D. same as the federal deficit.
Answer: C
Economics
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Which of the following statements is TRUE?
A) The long-run aggregate supply curve is vertical. B) The short-run aggregate supply curve is vertical. C) The long-run aggregate demand curve is upward sloping. D) The long-run aggregate supply curve is upward sloping.
Economics
Which of the following statements is true? a. Economic profits ignore implicit costs
b. Economic profits include implicit costs. c. Accounting profits include all of the opportunity costs. d. Economists consider sunk costs in their decision making.
Economics