The U.S. government need never default on its debt because
a. it can easily nationalize banks, who own all the debt, and then owe it to itself.
b. it can raise the funds it needs to repay by taxation, and it can print money to repay.
c. it owes the debt to itself, and it can always ignore a demand for repayment.
d. it can simply reduce spending enough to generate funds to repay its debt.
b
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Nadia operates a frame shop and charges the perfectly competitive price of $65 for custom framing of a standard size picture. She is a price-taking producer. To maximize her profit, Nadia will:
a. accept framing orders up until the point where the marginal cost of doing so is $65. b. seek to produce at the point where her average variable cost is $65. c. seek to operate at the minimum point on her average variable cost curve. d. seek to operate at the minimum point on her marginal cost curve.
__________ rights refer to the range of laws, rules, and regulations that define rights for the use and transfer of resources
A) Individual B) Constitutional C) Property D) Economic E) none of the above