The idea that a large public debt is "mortgaging the future of our children and grandchildren" is misleading because
a. it is the Federal Reserve that will be responsible for making interest payments on the debt.
b. future generations will have to bear the opportunity costs of the resources that are used today.
c. future generations will not be liable for the interest obligations of the national debt.
d. future generations will inherit the interest income as well as the interest obligations.
D
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Economists believe that entrepreneurs, whether they can articulate their behavior or not, always think about ________, which explains their MC = MR profit-maximizing activity
a. minimizing ATC b. maximizing revenue c. the consequences of producing the next unit d. maximizing output e. doing better than breaking even
When opening a print shop you need to buy printers, computers, furniture, and similar items. Economists call these expenditures
a. capital investment. b. investment in human capital. c. business consumption expenditures. d. personal saving.