Why does the government not have to repay debt, as do private individuals?
a. Because the government can ignore creditors and refuse payment.
b. Because the government, as a dictatorship, is unresponsive to demands for repayment.
c. Because the government has no debt, it owes it to itself.
d. Because the government does not have a finite life, as do individuals.
d
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As the relative price paid to a resource in a particular use rises,
a. resources will be drawn from lower-valued uses to higher-valued uses b. resources will be drawn from higher-valued uses to lower-valued uses c. resources will generally remain where they are currently employed d. the supply of that resource will shift to the right e. the supply of that resource will shift to the left
The future value of $500 saved for two years at an interest rate of 5% is
a. $550.25. b. $550.00. c. $551.25. d. None of the above are correct.