Which of the following is true of government debt?
a. The interest payments on federal bonds held by Americans will be paid to investors in other countries.
b. The share of the federal debt held by foreigners has declined from 35 percent of GDP in 1990 to less than 10 percent of GDP in 2012.
c. Between 2000 and 2012, federal debt owed to foreigners has risen from approximately 10 percent to 35 percent of GDP.
d. Less than 5 percent of the federal debt is owed to foreigners.
C
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When tax revenues minus outlays is i. positive, the government has a budget surplus. ii. negative, the government has a budget deficit. iii. zero, the government has a balanced budget
A) i, ii, and iii B) i and ii only C) ii and iii only D) i only E) iii only
Someone who values a lottery at more than the expected value is
a. a risk lover b. risk neutral c. risk averse d. one who tends to play lots of lotteries