The total public debt as a percentage of GDP for the United States in 2011 was in the vicinity of

The ways to address agency costs include

a. gathering information about the agent's characteristics before hiring b. gathering information about the agent's actions once hired c. incentivizing agents to work on behalf of principals d. all of the above

. Economists use the percentage change in quantity rather than the absolute change in quantity because:

A. percentage changes are easier to calculate than absolute changes. B. the measured elasticity is the same regardless of the unit of measurement for quantity. C. absolute changes are confusing to convert. D. absolute changes often result in negative numbers.