Which of the following is not included in the calculation of federal debt?
a. Debt held by banks
b. Debt held by firms
c. Debt held by the U.S. Treasury
d. Debt held by households
e. Debt held by foreign entities
c
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When a country decides to produce fewer bombers and more public housing projects, it is answering the ________ part of one of the two big economic questions
A) "how" B) "what" C) "defense" D) "for whom"
The merchandise trade balance measures
a. the value of goods and services exported b. the value of all goods and services exported minus the value of all goods and services imported c. the value of all goods and services exported minus the value of all goods and services imported, and transactions to finance the difference d. the value of all tangible products exported minus the value of all tangible products imported e. the value of all tangible products exported minus the value of all tangible products imported, and transactions to finance the difference